Resource Exchange of America, T & M Salvage Enter JV to Purchase Scrap

Resource Exchange of America Corp. has entered into a 50/50 joint-venture agreement with T & M Salvage Inc. to buy and sell steel and other scrap, according to an 8-K filing by Resource Exchange with the U.S. Securities and Exchange Commission.

Under the terms, Resource Exchange, based in Sarasota, Fla., will share profits equally with T & M after paying the privately held recycling company for processing and transportation fees.

The two companies said that initially, they will buy scrap from Southern Salvage, Ft. Meade, and sell to two firms: Gerdau-Ameristeel, of Baldwin, and Trademark Metals, of Tampa.