March 10, 2010 by Editorial Staff
USA: US steel producer Schnitzer has acquired Ponce Resources of Salinas in Puerto Rico, a company engaged in collecting, processing and selling ferrous and non-ferrous scrap and operating from four locations.
Schnitzer’s President and CEO John Carter comments: ‘We are pleased to be able to acquire these facilities, which will allow us to enter the Puerto Rico recycling market with the premier operator in the Commonwealth. The government and people of Puerto Rico have demonstrated a commitment to metals recycling, and we look forward to working together to further expand these activities.’ Ponce Resources has ‘a long history of strong supplier and customer relationships’, according to Johannes Schoo and Tjerk Spijkerman, two Dutch entrepreneurs who along with Lennox Garden Investments are the sellers of the business. ‘This enables us to join forces with a company that has a 100-year history in the metals recycling business and is one of the largest metals recyclers in the world.’ Schnitzer Steel Industries, Inc. is one of the largest manufacturers and exporters of recycled ferrous metal products in the USA with 39 operating facilities located in 12 states throughout the country.
Sign up now for our free, weekly newsletter