Australian recycling group Sims Limited has acquired the business and assets of Alumisource Corporation, based in Monessen, Pennsylvania for an initial payment of $22.5mn.
In a news release on Feb 12, Sims indicated that the acquisition would increase its North American metal division’s non-ferrous retail sales by about 33,000mt. In the past fiscal, the division sold 140,000mt of non-ferrous metals.
Alumisource uses aluminum scrap to produce furnace-ready products that are suitable for direct charging. The release also noted that Gabe Hudock, founder and chief executive officer of Alumisource, will continue to lead the business for the next three-five years.