Schnitzer acquires Puerto Rico metals recycler

Archiv – US steel producer Schnitzer has acquired Ponce Resources of Salinas in the US state of Puerto Rico. The company is engaged in the business of collecting, processing, and selling ferrous and nonferrous scrap metal and operates at four locations in the Commonwealth of Puerto Rico. United States | US steel producer Schnitzer has acquired Ponce Resources of Salinas in the US state of Puerto Rico. The company is engaged in the business of collecting, processing, and selling ferrous and nonferrous scrap metal and operates at four locations in the Commonwealth of Puerto Rico.
Commenting on the agreement, John Carter, President and CEO of Schnitzer says, ’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.’ Schnitzer Steel Industries, Inc. is one of the largest manufacturers and exporters of recycled ferrous metal products in the United States with 39 operating facilities located in 12 states throughout the country,
‘€˜Ponce Resources has a long history of strong supplier and customer relationships,’€™ according 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.’€™