N.C. Scrap Yards Acquired

Several scrap yards previously owned and operated by Recycling Industries have been acquired by Atlantic Scrap & Processing LLC, a limited liability corporation formed by Gordon Industries, Statesville, N.C. for the sole purpose of acquiring the RIC scrap yards.

The long-time scrap processor acquired five scrap facilities in North Carolina that have been idled for around six months. The acquired plants include facilities in Charlotte, Kernersville, Smithfield, and Winston-Salem. Additionally, a car crushing operation in Salisbury was acquired through an auction conducted that sold off a host of the bankrupt RIC’s facilities late last month.

Louis Gordon, vice president of Gordon, said the purchase price for the scrap yards and equipment was around $8.25 million. While some metal is being run through several of the plants at the present time, Gordon hopes that staffing of management and employees at the sites will allow all the facilities to begin processing both ferrous and non-ferrous materials by the end of this summer.

Gordon said the plants are expected to process between 30,000-35,000 tons of ferrous scrap a month and between 2,000-2,500 tons of nonferrous scrap a month.

Along with staffing the facilities, the company will be taking a look at the equipment that was acquired along with the plants. Two large auto shredders, a smaller shredder, as well as balers, eddy current separators, and heavy media separation equipment may require some repair and servicing.