Schnitzer Steel Industries Inc. said it would buy the assets of Columbus Recycling in the Southeast region of the U.S.
The maker of recycled metal products said that on Aug. 12 it agreed with Columbus to acquire eight operating facilities across several states in the Southeast, including Mississippi, Tennessee, and Kentucky.
Schnitzer said it expects the deal to close during the first quarter of its 2022 fiscal year.
Founded in 1956, Columbus Recycling purchases and processes scrap metal from industrial manufacturers, local recycling companies and individuals, and sells the recycled products to regional foundries and steel mills.
Combined with Schnitzer's nine existing facilities in Georgia, Alabama, and Tennessee, the acquired operations will offer additional recycling products, services, and logistics, the company said.
