Scrap Metal Services LLC (SMS) and Milestone Equipment Corp. (MEC) have announced the acquisition of 7,300 intermodal dry van trailers. SMS and MEC have created a new joint venture (JV) entity called Scrapstone Intermodal Services LLC to oversee the new fleet as well as to consider future intermodal opportunities.
The heavy-duty dry trailers acquired are deployed in rail intermodal service under leases throughout North America.
“This acquisition allows SMS to expand its role in the intermodal marketplace—a market segment that we believe will experience considerable growth over the next several years,” says Jeffry K. Gertler, CEO of Scrap Metal Services, based in Burnham, Ill.
“Milestone is now the largest domestic intermodal container and intermodal trailer equipment lessor,” says Robert Thull, Milestone president and founder. “We are committed to continued rapid growth and investments in intermodal equipment to provide flexible operating leases to our customers.”
Milestone Equipment Corp., Tiburon, Calif., is a full-service transportation equipment leasing and asset management company that began operations in 1995. It operates a fleet of 23,000 intermodal containers, chasses and trailers.
SMS engages in scrap processing, scrap management, brokerage and trading, and steel mill services to both electric arc furnace and integrated steel mills. The company operates scrap processing facilities in Illinois, Indiana and Alabama as well as mill services facilities in Pennsylvania and Indiana.
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