Gerdau Ameristeel announced Monday that it has acquired Canadian scrap processor, Metro Recycling, based in Guelph, Ontario.
Matt Yeatman, Gerdau Ameristeel's Vice President of Raw Materials, told press, "Metro's operations and experienced leadership team will enhance Gerdau Ameristeel's continuing strategy to grow our scrap processing capability throughout North America."
The terms of the transaction have not yet been disclosed.
Metro Recycling has three locations: two in Guelph and the other in Mississauga, Ontario.