BlueScope to acquire MetalX LLC’s scrap recycling units to strengthen position in US

Friday, 05 November 2021 16:05:59 (GMT+3)   |   Istanbul
       

Australian steelmaker BlueScope Steel has announced that it will acquire the ferrous scrap steel recycling units of US-based MetalX LLC, the leading supplier of scrap to BlueScope’s North Star plant. The acquisition is expected to be completed by the end of December this year.

BlueScope will pay US$240 million to acquire two of MetalX’s operating sites located in Indiana and in Ohio.

According to the statement, North Star plant’s annual capacity will increase to almost three million mt from two million mt soon. The acquisition will enable North Star to improve the quality and quantity of obsolete scrap it uses and to reduce the mix of prime scrap.


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