MetalX to get ‘back to basics’: Rifkin

Nov 05, 2012 | 10:43 AM | Lisa Gordon

Tags  MetalX, Danny Rifkin, OmniSource, scrap metal, Steel Dynamics, Lisa Gordon

PITTSBURGH — There’s still money to be made in the scrap metal industry, as the former owners of OmniSource Corp. plan to demonstrate with their new company, MetalX.

"If I was running for office, my slogan would be ‘back to basics.’ We plan to resurrect the family culture that we worked so hard to sustain at Omni," MetalX president and chief executive officer Danny Rifkin told AMM.

The Rifkin brothers sold OmniSource to Fort Wayne, Ind.-based Steel Dynamics Inc. (SDI) for more than $1 billion five years ago, and observers had long anticipated their return to the world of scrap. They recently announced the construction of a full-scale, state-of-the-art scrap-processing facility, complete with a shredder, in Waterloo, Ind. (, Nov. 1).....

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