FPT makes Cleveland acquisition.Ferrous Processing and Trading Co. (FPT FPT Field Programmable Technology FPT Federal-Provincial-Territorial (Canada) FPT Fiat Powertrain Technologies FPT Female Pipe Thread FPT Fast Processing Technology FPT Forced Perfect Termination FPT Fine Pitch Technology ), a Detroit-based scrap metal company, has acquired M. Weingold & Co., a Cleveland-based scrap metal recycling firm. FPT, which operates a dozen scrap yards in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , processes nearly 2.5 million tons of scrap metal per year. Most of the company's locations are in Michigan, with some yards in Ontario and a location in Cleveland. Howard Sherman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Ferrous Processing, says, "This move strengthens Ferrous Processing and Trading's ability to serve its customers throughout the region and opens the door to new opportunities for us in Cleveland and surrounding markets." He adds, "When Ferrous Processing and Trading Co. was made aware of the opportunity to acquire the assets of M. Weingold & Co., we recognized that this leader in the Cleveland marketplace would be an excellent fit with our Ohio business platform." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. FPT, its acquisition of the M. Weingold & Co. assets underscores its strategy of growing in the Great Lakes region The Great Lakes region can refer to:
This move by FPT is one of several recent industry acquisitions in the Midwest region. |
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