Schnitzer buys Macon Iron & Paper Stock, strengthens Southern scrap folio
Nov 29, 2010 | 01:05 PM
| Michael Marley
Schnitzer Steel Industries Inc. has agreed to buy Macon Iron & Paper Stock Co. Inc., Macon, Ga., its third and possibly largest acquisition in 2010.
Financial terms of the transaction were not disclosed.
"The acquisition of Macon Iron further strengthens our Southeast platform," Don Hamaker, president of Schnitzer Steel's Metals Recycling Business, said in a statement.
The Macon acquisition, if completed, widens Portland, Ore.-based Schnitzer's footprint in the region. Macon operates two yards in this central Georgia city, about 80 miles southeast of Atlanta. The company's facilities there operate an 800-ton shear and balers but has no shredder, a key piece of scrap processing equipment at many of Schnitzer's big yards in the West and Northwest and in its Boston export yard.....
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