Apr 5 2007
Steel Dynamics, Inc. announced it has reached an agreement to purchase two privately owned metals recycling facilities in eastern Tennessee. The facilities are Elizabethton Iron & Metal in Elizabethton, Tennessee, and Johnson City Iron & Metal, in Johnson City, Tennessee. Together, the two scrap yards typically process in excess of 225,000 tons of ferrous scrap per year.
These yards will likely supply a portion of the ferrous scrap requirements to Steel Dynamics’ Roanoke Bar Division in Roanoke, Virginia, as well as to continue to sell ferrous and non-ferrous materials on the open market. The Tennessee yards will augment the steel scrap supplied to the Roanoke mill by company-owned Shredded Products, LLC, which operates facilities in Montvale, Virginia, and Rocky Mount, Virginia. After the close of the acquisition of the Tennessee facilities, the four company-owned yards are expected to be able to supply more than half of the ferrous scrap consumed by the Roanoke Bar Division.