Metso to acquire Texas Shredder.Metso Minerals has acquired Texas Shredder Inc. (TSI TSI Total Solar Irradiance (sum solar light in energy per unit of time) TSI Trading Standards Institute (UK) TSI Transportation Safety Institute (US DOT) ), a supplier of metal shredder products headquartered in San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. . The sellers are a group of private investors led by Capital Southwest Corp., a venture capital investment company based in Dallas. The price of the acquisition is about $16 million. 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. a press release, Texas Shredder has unaudited net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of about $56.5 million for the most recent fiscal year. With the acquisition, Metso Minerals considerably expands its presence in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. scrap metal recycling market, as TSI has more than 60 shredding plants installed. Texas Shredder's line also complements Metso's downstream technology solutions and aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. capabilities, according to the companies. Texas Shredder will be merged with Metso Minerals' current metal recycling operations to form Metso Texas Shredder Inc. According to the joint announcement, Metso's recycling business has developed favorably since it became part of Metso Minerals in the Svedala acquisition of 2001. Net sales have nearly doubled in two years. Following the acquisition of TSI, net sales are expected to reach $245 million. Metso has also announced the sale of an $8.6 million shredder line to Makiura Steel Work Co. Ltd.'s recycling plant in Himeji City, Japan. Metso expects delivery to be completed by August 2006. The sale includes a metal shredder, a complete downstream system for ferrous and nonferrous separation and de-dusting and a double-screw extrusion system for processing the light fraction. Makiura is one of Japan's leading metal recycling firms, and the new line will reportedly make it the country's leading auto residue processor. |
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