Portland, Oregon-based Schnitzer Steel Industries, Inc. Monday announced that it has acquired substantially all of the assets of Golden Recycling & Salvage, Inc. (dba Golden Steel & Recycling) of Billings, Montana. Schnitzer's subsidiary, SSI Big Sky LLC, purchased the assets and is now operating the facility as Schnitzer Steel Billings.
"Schnitzer's long term vision remains focused on our growth strategy. The purchase of Golden Steel & Recycling gives us a presence in the Montana market and positions us for further growth in the region," said Don Hamaker, President of Schnitzer Steel's Metals Recycling Business. "Golden Steel & Recycling's demolition services business nicely complements our core competency of metals recycling and allows us to expand our service and product offerings. We are delighted to have Jim Gallup and his team join us, and we look forward to being active participants in the Billings community. We will continue to look for other recycling opportunities in the region and to grow our business in order to better serve our customers and the communities in which we operate."
"The acquisition by Schnitzer Steel presents an opportunity for substantial business growth in all of our product and service lines," said Jim Gallup, the majority owner of Golden Steel & Recycling.
Golden Steel & Recycling has been collecting, processing and recycling scrap metal from the greater Billings community for nearly 19 years at its current location. Terms of the transaction were not disclosed.