Japanese firm Mitsui & Co. Ltd has announced the sale of Long Beach, California-based Pacific Coast Recycling, LLC (PCR) to SA Recycling LLC, a JV between Australia's Sims Group Limited and Adams Steel LLC.
PCR is a ferrous and nonferrous scrap recycling company which operates seven facilities in Southern California, including a facility at the Port of Long Beach. The company's annual shipments are estimated at around one million mt.
According to Mitsui, the transaction is in line with its corporate strategy of increasing shareholder value and of focusing its metal scrap recycling activities in the North American region on its existing investment in Sims Group Limited