Metal Assets Acquisitions, LLC Buys Idled Yards

Metal Asset Acquisitions, LLC acquired the assets of Recycling Industries of Atlanta Aug. 3. Metal Asset is a joint venture between Regional Recycling LLC and OmniSouce Corp.

The company purchased three scrap processing facilities in the Atlanta area which, before closing, operated as scrap processing and collection facilities. The operations were formerly known as Central Metals.

Danny Rifkin, president of OmniSouce, said, “This new joint venture provides an opportunity to offer a superior level of service to customers in the Atlanta area, and to enhance our ability to service existing customers in the Southeast.

Regional Recycling, headquartered in Atlanta, operates facilities in Alabama, “Georgia and South Carolina.

Prior to being idled, the Central Metals operations processed both ferrous and nonferrous metals. Equipment included with the plants are a 80-104 Heavy Duty shredder, a 1,000 ton shear, a Harris 252B baler, HRB nonferrous baler and a fleet of trucks, trailers and containers.

The facilities were a part of Recycling Industries. However, when the company was forced to liquidate its operations the company idled all of its scrap processing facilities. The yards purchased by Metal Asset Acquisitions have been closed since Dec. 8, 2000.

Over the past several months a number of scrap companies have been purchasing these idled facilities.