Steel Mills
CMC Acquires Scrap Recycler Roane Metals
March 7, 2023
Commercial Metals Co. has acquired metal recycler Roane Metals Group.
Financial terms of the private transaction were not disclosed, in a deal guided by Carl Marks Securities LLC.
Roane Metals is a ferrous and nonferrous metals recycling company with headquarters in Rockwood, Tenn. It specializes in the purchase, processing, and sale of scrap metals from industrial, commercial, and individual sources.
“After running a broad auction process and bringing in bids from many international steel companies, Commercial Metals emerged as the best fit to continue Roane Metals’ legacy,” Chris Parisi, partner at Carl Marks Advisors, said in a statement.
Carl Marks Securities is an affiliate of middle-market investment bank Carl Marks Advisors.
CMC is an Irving, Texas-based long products steelmaker and scrap recycler.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Steel Mills
SSAB announces $74M expansion in Alabama
The project will expand heat treat capacity at its Axis, Alabama plant
ArcelorMittal’s EAF in Alabama expects first heat in Q2
The facility at AMNS Calvert will be the first EAF in North America capable of supplying exposed automotive grades with domestically melted and poured material.
Nucor’s Topalian lauds Trump’s trade policies, downplays impact
Nucor’s top exec Leon Topalian said the benefit of the current administration’s aggressive trade policies “trumps” any risk of potentially higher raw materials prices.
SSAB reports higher production, shipments
But profits slipped vs. last year.
Nucor earnings slump in first quarter, but better times seen ahead
Nucor’s profits fell precipitously in the first quarter, but the company has a rosier outlook for the following quarter.