Schnitzer Steel acquires Regional Recycling
Leading ferrous metals recycler Schnitzer Steel Industries has acquired Atlanta, Georgia based metals recycling business Regional Recycling LLC for $65.5 million in cash and the assumption of certain liabilities for the acquisition. The assets of Regional Recycling, including 10 locations in the Southeastern United States, will be operated under the name of Regional Recycling, a Schnitzer company, with locations in Alabama and Georgia. Schnitzer president and CEO John D. Carter stated, Our acquisition of Regional provides us with a new and solid presence in the Southeast, and complements our metals recycling businesses and our recent acquisition of Greenleaf Auto Recyclers. With the acquisition of Regional, Schnitzer's ability to serve domestic and export markets from either coast is significantly enhanced. Schnitzer also said that Regional Recycling executives Byron Kopman and David Romanoff will hold positions as executive directors of Schnitzer Southeast.