The acquisition will include Macon Iron & Paper Stock Company’s metal recycling operations that have served the Southeast Region from two sites in Macon, Georgia for 41 years, thereby expanding Schnitzer Steel’s presence in the region to cater to the market for industrial manufacturing.
Closing of the transaction that complements Schnitzer Steel Industries’ strategy to accelerate its rate of growth in recycling business through an expansion of domestic supply network is expected to occur shortly, subject to normal closing conditions.
Schnitzer Steel president of metals recycling business Don Hamaker said that the acquisition of Macon Iron & Paper Stock Company further strengthens Schnitzer Steel’s Southeast platform.
"Since our 2005 purchase of Regional Recycling, we have expanded by an additional 4 facilities to demonstrate our commitment to growth in this region. Schnitzer Steel and Macon Iron & Paper are already well aligned in our commitment to our customers and community," Hamaker said.
