North American integrated scrap metal recycler Triple M Metal has acquired Peterborough Iron & Metal (PIM), which operates three scrap yards in the Ontario region.

 

Triple M did not disclose the transaction amount for the deal, but the company’s president Oscar Moniz said in a statement on Jun 24 that despite the acquisition the PIM yards will continue to run under their own brand names. PIM operates three scrap yards in Peterborough, Port Hope, and Minden, Ontario, and is headed by Mark Dickomeit.

 

The acquisition is expected to enhance the Ontario headquartered recycler’s feeder and processing capacities and increase its presence in the region, according to Muniz.

 

PIM’s acquisition will increase Triple M’s Ontario sites to 19 and to 31 across the North American region. The company also has operations in Europe.

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