Nucor Corp. has signed a Purchase Agreement to acquire substantially all the assets of Metal Recycling Services Inc., based in Monroe, NC.
MRS operates a full-service processing facility (including an automobile shredder) and two North Carolina feeder yards. The company employs 150 people and expects to process 220,000 tons annually.
The deal is expected to close within 30 days. When the deal is complete MRS will become a part of Nucor’s David J. Joseph Co., subsidiary.
The deal for MRS follows DJJ’s recent acquisition of the Galamba Metals Group, which operates 16 scrap processing facilities in Kansas, Missouri and Arkansas.
"The addition of MRS demonstrates our commitment to grow in the scrap sector by using DJJ as a platform for that growth," said Daniel R. DiMicco, Nucor's Chairman, CEO and President. "We look forward to welcoming the MRS management team and employees to the Nucor family."
Latest from Recycling Today
- Cards Recycling, Live Oak Environmental merge to form Ecowaste
- Indiana awards $500K in recycling grants
- Atlantic Alumina partners with US government on alumina, gallium production
- GP Recycling president retires
- Novelis Latchford commissions new bag houses
- UK facility focuses on magnet recycling
- Aduro revenue increases while losses widen
- Worldsteel updates its indirect steel data
