Metal Management Acquiring TIMCO Scrap Processing

Metal Management, Inc. has entered into a definitive agreement to acquire substantially all of the assets of TIMCO Scrap Processing, Inc.

Privately held Timco was established in 1935. The company is a full-service metals processor and supplier serving Texas and specifically the greater Houston area. The company handles about 120,000 tons of ferrous scrap metals each year. TIMCO has long-standing customer relationships that fit well in Metal Management's already large portfolio of industrial customers in Houston.

TIMCO operates a water-based scrap facility and has six mobile shears, a Sierra ferrous baler and material handling equipment.

Daniel Dienst, chairman, president and CEO of Metal Management said, "The acquisition of TIMCO will broaden our already strong platform in the Houston area, which supports scrap generators and dealers throughout Texas. With its facility situated with access to the Intercoastal Waterways, TIMCO fits neatly into our portfolio of businesses that support consumers who receive scrap via water. We look forward to welcoming TIMCO and its customers to the Metal Management family."

Ron Moore, president of TIMCO, will remain with Metal Management following the close of the transaction.