Cozzi, Universal Scrap set up joint venture.
Cozzi Iron and Metal, Inc and Universal Scrap Metals have formed a joint venture to process nonferrous metals for recycling.
Initially, the new venture will shred and process aluminum scrap for shipment to foundries, smelters and refineries.
The new company, UNICO Recycling, Inc., Chicago, will buy, process and sell aluminum scrap, and shred aluminum for customers for a tolling fee.
"While exploring ways for our company to grow," Cozzi president Albert Cozzi said, "nonferrous metal processing, and aluminum shredding in particular, seemed like a natural extension of our ferrous processing while providing the key to increase our presence in the nonferrous marketplace."
Universal Scrap Metals president Philip L. Zeid said the joint venture is a perfect fit.
"We're taking the scrap processing expertise of Cozzi, and our expertise in nonferrous metals, creating a formidable processing and marketing venture," he said. "The need exists and the opportunities for growth are many."
Cozzi said he was confident that UNICO will soon be processing at least 100 tons of aluminum a week. He also expects the venture to expand into other nonferrous metals.
Cozzi said he was confident that metal processor in the Midwest, processing 70,000 tons monthly at five facilities in the Chicago area. The company recently acquired additional facilities in Pittsburgh and Milwaukee.
Universal Scrap Metals, one of the largest nonferrous scrap metal dealers in the Chicago area, processes and markets all types of industrial scrap metals.
|Printer friendly Cite/link Email Feedback|
|Title Annotation:||Industry News; Universal Scrap Metals; Cozzi Iron and Metal Inc.|
|Date:||Sep 1, 1990|
|Previous Article:||Madison-Kipp "molds" an innovative ceramic fiber solution.|
|Next Article:||Report provides in-depth look at U.S. foundry industry.|