Portland, Oregon-based Schnitzer Steel Industries Inc. announced Tuesday that it has entered into a definitive agreement to acquire substantially all of the assets of State Line Scrap Co., Inc. and certain of its affiliates. State Line and affiliates operate from facilities in Attleboro, Massachusetts.
"Schnitzer's acquisition of State Line Scrap brings together two complementary operating platforms in the Northeast metals recycling business," said Tamara Lundgren, CEO of Schnitzer Steel Industries. "By enhancing our supply network and the production capabilities of our Northeast metals recycling business we believe this acquisition is a great strategic fit for our Company."
Terms of the transaction were not disclosed.