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[United States]
Posted on : Sep 23, 2008
United States Schnitzer has
acquired Ponce Resources of Salinas in the US state of Puerto Rico. The company
is engaged in the business of collecting, processing, and selling ferrous and
nonferrous scrap metal and operates at four locations in the Commonwealth of
Puerto Rico.

Commenting on the agreement, John Carter, President and CEO of Schnitzer says,
‘We are pleased to be able to acquire these facilities, which will allow us to
enter the Puerto Rico recycling market with the premier operator in the
Commonwealth. The government and people of Puerto Rico have demonstrated a
commitment to metals recycling, and we look forward to working together to
further expand these activities.’ Schnitzer Steel Industries, Inc. is one of the
largest manufacturers and exporters of recycled ferrous metal products in the
United States with 39 operating facilities located in 12 states throughout the
country,

‘Ponce Resources has a long history of strong supplier and customer
relationships,’ according Johannes Schoo and Tjerk Spijkerman, two Dutch
entrepreneurs who along with Lennox Garden Investments are the sellers of the
business. ‘This enables us to join forces with a company that has a 100-year
history in the metals recycling business and is one of the largest metals
recyclers in the world.’
 
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