Metal Price
Scrap Monster
Vulcan
Metal Recycling News August 04, 2020 09:15:47 PM

Steel Dynamics Inc. Concluded Acquisition of Mexican Scrap Metal Recycler

Paul Ploumis
ScrapMonster Author
The acquisition is considered part of SDI’s raw material procurement strategy to support its new Texas flat roll steel mill, which is expected to commence operation by mid-2021.

Steel Dynamics Inc. Concluded Acquisition of Mexican Scrap Metal Recycler

SEATTLE (Scrap Monster): Fort Wayne, Indiana-headquartered Steel Dynamics Inc. (SDI) announced that it has completed the acquisition of Zimmer, S.A. de C.V. - the Mexico-based ferrous and nonferrous scrap metals recycling business. A definitive agreement towards acquisition of the business was entered between the two parties in the month of March this year.

The acquisition is considered part of SDI’s raw material procurement strategy to support its new Texas flat roll steel mill, which is expected to commence operation by mid-2021. The acquisition brings Zimmer’s six scrap processing facilities located throughout Central and Northern Mexico to SDI’s fold. In addition, all the third-party scrap processing locations operated by the Mexican company will become part of SDI’s business. The acquired facilities together have an estimated annual processing capability of approximately 2 million gross tons.

ALSO READ: SDI Steel Shipments Scaled New Heights in 2019

Mark D. Millett, President and Chief Executive Officer, SDI welcomed entire Zimmer team to the Steel Dynamics family. The acquisition will expand SDI’s commercial presence in the region and strengthen its raw material supply strategy. Further, it provides a platform to grow its metals recycling presence in Mexico.

SM Newsletter
Subscribe to SM mailing list and get updates to your inbox
Facebook Twitter Linkedin Instagram