thyssenkrupp’s Materials Services has joined hands with mantro to create a joint venture (JV) to recycle steel. The new company will be called mt industry recycling.
Through the JV, thyssenkrupp will offer a complete recycling management system to service scrap producing subsidiaries and sell recycled steel to mills. The JV will process, package, and market scrap steel produced by thyssenkrupp’s companies as well as subscribing clients.
The JV model is aimed to remove the scrap dealer from the procurement chain. This allows steel mills and foundries to purchase steel scrap directly from mt industry recycling and also lower costs and purchase prices for customers, thyssenkrupp said in a media release.
The JV’s scope also includes production of steel ingots. The guaranteed levels of purity of the materials will enable mills and foundries to plan melting schedules without concern for quality.
Jan Crommelinck, managing director of mt industry recycling said that coordinating and processing recycled steel offers the company innovation potential at the logistics, processing, packaging, and sales distribution levels.