Peru-based Aceros Arequipas (CAASA) purchased two scrap yards in Florida via two new subsidiaries namely, Aceros America Port Manatee and Aceros America St. Pete. According to a US market source, the sites were formerly Port Manatee Scrap Metal and St. Pete Scrap Metal.
The two entities will collect and export about 100,000mt of scrap metal annually to the Pisco, Peru plant. It is part of the company’s vertical integration plan according to chief executive officer Tulio Silgado.
Assets include two yards with an area of 116,000mt square yards and a 6,000hp shredder. The magnetic metal separator for non-ferrous will add to the revenue stream with exports primarily destined to Asia.
Port Manatee is investing $8.3mn to double the size of its dockside container yard. Both Port Manatee and St. Petersburg are on the Southwest side of Florida near Tampa Bay.