Dec 16 2010
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) today announced that it has entered into a definitive agreement to acquire substantially all of the assets of Selkirk Recovery, Inc., dba Steel Pacific Recycling, of Duncan, British Columbia.
“Our acquisition of Steel Pacific Recycling provides Schnitzer Steel with an opportunity for continued growth in Western Canada,” said Tamara Lundgren, CEO of Schnitzer Steel Industries. “Together with Schnitzer’s recently announced acquisition of Amix Salvage & Sales of Vancouver, BC, we are adding to our export-based recycling platform to better serve our customers around the world.”
“Schnitzer Steel and Steel Pacific Recycling have been working closely together for many years,” said Don Hamaker, President of Schnitzer Steel’s Metals Recycling Business. “The strength of that working relationship and Steel Pacific Recycling’s historic emphasis on customer and community relations will remain at the forefront of our business.”
“I know our customers and employees will be well-served by Schnitzer Steel’s commitment to operational excellence and sustainability,” said Barry Waters of Steel Pacific Recycling. “We are excited to join Schnitzer Steel and appreciate that the core values of our business are so closely aligned,” added Andrew Ketch of Steel Pacific Recycling.