Printer Friendly

Two Carolina scrap firms to merge.

Carolinas Recycling Group LLC (CRG) and Atlantic Scrap and Processing LLC have agreed to merge into a consolidated entity that is expected to handle more than 1.2 million tons of ferrous scrap and 230 million pounds of nonferrous scrap annually

The transaction is expected to close in the first quarter of 2007, subject to conditions. The merger will create a scrap processing company that will employ more than 500 people in 16 locations throughout the Carolinas and Georgia.

The names of both companies are expected to remain in use, with the CRG name remaining prominent in South Carolina and the Atlantic Scrap & Processing name being used in most of North Carolina. "Both companies have strong brands in their regions," says Marvin Siegel, CEO of CRG.

The merger will help set in motion plans for continued growth and investment, according to Siegel. He adds, "This merger is a perfect fit, as both companies share such similar management styles and operating philosophies.

Frank Brenner, president of Atlantic Scrap, says, "In the five short years since the inception of Atlantic Scrap & Processing LLC, I have seen our business develop into the largest recycler in North Carolina. We are excited to be merging with CRG, who we feel shares the same ideals as Atlantic Scrap. We look forward to this merger and to continued growth and success."

Brenner adds that the company's new shredding plant, located near a deep water dock on the Cape Fear River in Wilmington, N.C., is expected to go online by the end of the year.
COPYRIGHT 2006 G.I.E. Media, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Recycling Today
Date:Nov 1, 2006
Previous Article:Xstrata builds recycling plant.
Next Article:EPA names New Jersey scrap yard as superfund site.

Related Articles
Editor's focus.
Galamba reaches into Arkansas.
Flexing its strength: restructuring has helped stabilize the steel industry, so will steel mills start flexing their purchasing muscles?
Copper outpacing industry.
Sims announces Hugo Neu acquisition.
One billion and counting.
Keeping the spigot open.
Power play.
Basic needs: the demand for basic materials in fast-growing economies is keeping scrap prices buoyant.
Getting crowded: more shredders are sprouting up in North America, but improved sorting may allow them to be profitable even when running limited...

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters