Loacker Recycling, an Austrian-based scrap metal company, has taken a 50 percent stake in Weiss Scrap & Metal Handling, based in Salzburg, Austria. The price for the stake has not been disclosed.
Weiss was founded by Stefan Weiss in 1971. The company specializes in processing ferrous and nonferrous scrap, container collection and auto shredding operations.
According to an announcement on the deal, there has been a working relationship between the two companies for a number of years, primarily surrounding transportation opportunities for the two companies. The deal is expected to strengthen the operations of the companies in Austria and Germany.
Michael Loacker, managing director for Loacker, sees the deal as strengthening transportation operations for the companies. “The site offers us Hallein optimal transport routes in the German speaking countries. We want a means to strengthen our market position.”
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