Universal Acquires Assets of Wise Chicago Unit

Universal Scrap Metals, Inc. acquired the Chicago Business Unit assets of Wise Recycling, LLC. The assets include a 22,000+ sq. ft.building in Alsip, Ill., rolling stock, equipment for bale breaking, baling and shredding of aluminum used beverage cans, and 13 buy-back convenience centers in the Chicago metropolitan area. Subsequent to the acquisition the 13 convenience centers will operate independently.

Bill Karr, current manager of the Wise Chicago Business Unit, will join Universal and continue to direct the Alsip operations under the name of USM Recycling. Currently, the facility is processing more than 1 million pounds of non-ferrous scrap and 2 million pounds of UBC shred per month. USM Recycling will continue to process and ship UBC shred through a supply agreement with Wise Alloys, LLC.

Philip Zeid, president of Universal, said, “This acquisition has a positive affect on our core business in a number of areas. Cost efficiencies can be achieved through the assimilation of the non-ferrous scrap at our main processing facility. Consequently, the USM Recycling Alsip facility can concentrate on what it does best, the processing of aluminum used beverage cans. This focus will allow us to expand into what we consider a growth area,the bale-breaking, cleaning and processing of off-spec UBC bales.”