SAI to Repurchase DJJ Interest

Systems Alternatives International LLC (SAI), Maumee, Ohio, has reached an agreement to repurchase a 35 percent minority interest in its ownership that had been held by the David J. Joseph Co. (DJJ),  Cincinnati, since May of 1999.

SAI will now be 100 percent owned by its four original partners, all of whom are active in the daily SAI operations.  Terms have not been disclosed.  Plans call for the transaction to be completed by April 30, 2003.

“The equity relationship between SAI and DJJ no longer makes strategic sense since most of the technology programs under joint development have been discontinued,” says John Underwood, president of SAI. “The current agreement ends the May 1999 transaction and allows the two firms to focus on their ongoing commercial relationship.”

Underwood notes that DJJ and its affiliated processing facilities continue to be an important SAI customer and an excellent source of ideas for product enhancements.  According to Underwood, all of the DJJ processing facilities use the SAI Commercial Recycling Enterprise System (CRES) and are currently upgrading to the new Version 4 product.

The David J. Joseph Co. is a major broker of scrap metals in North America and, through several affiliated entities, including Trademark Recycling in he Southeast and River Metals in the Ohio Valley region, is one of the largest scrap metal processors in the U.S.