Australian metals recycler and long product manufacturer and distributor Smorgon Steel has announced that it will acquire the assets of Industrial Metal Recycling (IMR), which operates four ferrous
scrap recycling locations in Maine.
IMR currently handles approximately 100,000 metric tons of ferrous
scrap per year.
"Around 75 percent of IMR's business is based on the peddler trade," said Smorgon Steel Recycling CEO Shane Grice, "and this, combined with Maine's geographical location, provides
us with a sound business base in the northeast."
He added, "We see opportunities for further expansion, both in the USA and
Canada."
The acquisition is expected to be completed in early 2007.