Newell Recycling LLC, Atlanta, has announced an agreement to purchase industrial property in the Port of Savannah, where it will build a shredding plant.
“This expansion is just part of a larger plan permitted by the recent robust markets for scrap metal worldwide,” says Bobby Triesch, Vice President of Newell Recycling.
The company cites soaring scrap metal prices and global demand for scrap metal as reasons for its expansion.
The Savannah operation will include a shredder and downstream processing technologies such as eddy currents and metal sensors that will allow for higher recovery rates, according to the company.
In addition to the Savannah facility, expected to be completed in the fall of 2007, Newell Recycling has also recently purchased scrap metal collection yards in Rome, Douglasville, Elberton, Conyers, Augusta and South Fulton, in Georgia, as well as a yard in Allendale, S.C.
These newly acquired sites are in addition to Newell’s existing facilities, which include auto shredding plants in East Point and Doraville, Ga., both in metropolitan Atlanta.
The Savannah acquisition will bring the total number of Newell facilities in the southeastern United States to 14. “Additional expansion is expected in Georgia and elsewhere in the Southeast,” says Triesch.
He says the growth from two to more than a dozen facilities “fulfills [the company’s] long-term strategy developed over a number of years.”