Schnitzer Continues Acquisition Spree

Schnitzer Steel Industries Inc. has entered into a definitive agreement to acquire substantially all of the assets of Amix Salvage & Sales Ltd., Vancouver, B.C. The acquisition follows on the heels of Schnitzer acquiring Macon Iron & Paper Stock, a scrap metal recycler in Georgia.

In a release announcing the purchase, Tamara Lundgren, Schnitzer’s CEO, says, "The relationship between Schnitzer Steel and Amix Salvage & Sales began over 15 years ago. Joining our two operating platforms creates an exciting new opportunity for both companies. Growth remains a fundamental component of our strategy, and this acquisition represents a significant expansion into the Western Canadian market for Schnitzer Steel."

"Amix Salvage & Sales and Schnitzer Steel have teamed up to expand our market in Western Canada," says Don Hamaker, president of Schnitzer Steel's Metals Recycling Business. "The addition of six sites in British Columbia and Alberta, Canada will serve our customers well both now and into the future. We are pleased to welcome the new employees to Schnitzer Steel."

"Our success has been built on two fundamentals: our people and their love of the business," says Willie Jackson, President of Amix Salvage & Sales. "I look forward to continuing our success together with Schnitzer Steel."

Amix Salvage & Sales, which says it is the largest scrap metal recycler in British Columbia, has five facilities in British Columbia, and one facility in Edmonton, Alberta.