OmniSource Corp. has completed the acquisition of Admetco, Inc., a Fort Wayne, Ind., company. The company specializes in copper recycling and wire chopping.
OmniSource estimated that the acquisition will add $100 million in sales and 125 million pounds of annual non-ferrous scrap volume to OmniSource’s non-ferrous operations.
In making the announcement, Danny Rifkin, president of OmniSource noted, “The Admetco acquisition represents a significant addition to our non-ferrous segment. While we are certainly excited about the sizeable volume growth, we are even more pleased that the principals and many key employees will be joining our organization, offering customers expanded services and a seamless transition. We expect to realize substantial synergies arising from the consolidation of processing capacity, which is critical to be a low-cost producer in the highly competitive non-ferrous marketplace.”
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