US-based Schnitzer Steel acquires Canadian recycling firm

Thursday, 16 December 2010 02:54:15 (GMT+3)   |  
       

Portland, Oregon-based Schnitzer Steel Industries, Inc. announced Wednesday that it has entered into a definitive agreement to acquire substantially all of the assets of Selkirk Recovery, Inc., dba Steel Pacific Recycling, of Duncan, British Columbia.

"Our acquisition of Steel Pacific Recycling provides Schnitzer Steel with an opportunity for continued growth in Western Canada," said Tamara Lundgren, CEO of Schnitzer Steel Industries. "Together with Schnitzer's recently announced acquisition of Amix Salvage & Sales of Vancouver, BC, we are adding to our export-based recycling platform to better serve our customers around the world."

Steel Pacific is the largest metal recycler in the Vancouver Island region of British Columbia with 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. Steel Pacific has operated from its current base of operations at Duncan on Vancouver Island of British Columbia for over 50 years. Terms of the transaction were not disclosed.


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