San Jose’s AMI Makes Acquisition

American Metal and Iron (AMI), a 101-year-old scrap company based in San Jose, Calif., has purchased the assets of a competing San Jose scrap firm.

AMI chairman Howard Misle has announced the acquisition of Metal Brokers, previously owned and operated by Richard Morgan. “Metal Brokers was a respected industry ally looking for an exit strategy,” says Misle. “We saw the opportunity, quoted a fair price, all parties were in agreement and we bought the company.”

Misle says he expects to fold Metal Brokers into AMI and to maintain the customer base by providing “the same excellent service that was provided to them by Metal Brokers within the past 20 years.”

The AMI chairman says more growth could be ahead for his company. “I expect considerable future expansion, acquisitions and mergers in an effort to continue to grow this company,” he comments.

Founded in 1904 and formerly known as City Metals, AMI offers an array of recycling service for metals, plastics, glass and electronic scrap, including the handling of cathode ray tubes (CRTs) within computer and TV monitors.

Misle purchased the former City Metals in 1994 and renamed it American Metal and Iron. Among the growth steps taken in the past 11 years have been the development of Asset Services and Liquidators Company (ASL) in 1997 and the acquisition of Dimond Metals in 2000. AMI also opened a processing plant in Mexico in 2001.