RMU: SDI subsidiary acquires Ohio metals recycler

Written by Stephanie Ritenbaugh

OmniSource LLC, a subsidiary of Fort Wayne, Indiana-based steel producer and recycler, Steel Dynamics, Inc., has acquired Toledo Shredding, LLC, in Ohio.

Terms of the deal were not disclosed in an announcement Thursday by Chicago-based Brown Gibbons Lang & Company.

Toledo Shredding, founded in 2003, is a subsidiary of Fairlawn, Ohio-based ProTrade Group, a fully integrated scrap metal company that specializes in both ferrous and nonferrous metals. ProTrade has four trading offices, two processing facilities and a full-service transportation division with over 300 private railcars.

Toledo Shredding is a 30-acre scrap metal processing facility. Its main operation is a Wendt-designed recovery system located in a 30,000-square-foot production facility.

OmniSource operates about 70 US scrap collection and processing facilities in the United States and Mexico, including 11 operating shredders, which can process more than 7 million tons of ferrous scrap annually and more than one billion pounds of nonferrous metals, according to the Fort Wayne, Indiana-based company.

Brown Gibbons Lang & Company’s Metals & Advanced Metals Manufacturing investment banking team served as the exclusive financial adviser to Toledo Shredding in the transaction.

Editor’s note: This column appeared first in Recycled Metals Update (RMU), SMU’s new sister publication. RMU is devoted entirely to the ferrous and nonferrous scrap markets. If you’d like to learn more, visit RMU’s homepage and take out a free, 30-day trial.

Stephanie Ritenbaugh

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