S.G.M. Magnetics Sells Drum Magnets to Chinese Company

S.G.M. Magnetics, Sarasota, Fla., has announced the sale of four 10-inch-by-98-inch Mega Axial Pull Drums to Jiangsu Fengli Group Co. Ltd., Jiangsu, China.

The order was placed by The Shredder Co. (TSC), Canutillo, Texas. The company is installing a TSC 124 SXS shredder at Fengli’s Zhangjiagang, China, location, which is just beyond Shanghai. It will be delivered in the late spring of 2007 for startup and operation in the fall.

According to TSC, the plant is projected to produce more than 1 million tons per year of shredded steel scrap, which will make it the highest known production plant.