Schnitzer Signs Deal to Acquire Pacific Steel Recycling

After announcing a deal to acquire Amix Salvage, a British Columbia-based scrap metal recycler, on Dec. 14, 2010, Schnitzer Steel Industries Inc. has announced that it has entered into a definitive agreement to acquire substantially all of the assets of Selkirk Recovery Inc., dba Steel Pacific Recycling, headquartered in Duncan, B.C.

In a Schnitzer release, Tamara Lundgren, CEO of Schnitzer, says, “Our acquisition of Steel Pacific Recycling provides Schnitzer Steel with an opportunity for continued growth in Western Canada. Together with Schnitzer’s recently announced acquisition of Amix Salvage & Sales of Vancouver, B.C., we are adding to our export-based recycling platform to better serve our customers around the world.”

“Schnitzer Steel and Steel Pacific Recycling have been working closely together for many years,” says Don Hamaker, president of Schnitzer Steel’s Metals Recycling Business. “The strength of that working relationship and Steel Pacific Recycling’s historic emphasis on customer and community relations will remain at the forefront of our business.”

Steel Pacific is the largest metal recycler in the Vancouver Island region of British Columbia. The company has six facilities located along the eastern coast of the island, including a waterfront facility in Victoria, two sites In Campbell River, and facilities in Duncan, Courtenay and Nanaimo.

Terms of the transaction were not disclosed.