Gerdau buys Virginia scrapyard chain

Feb 01, 2013 | 02:42 PM | Lisa Gordon

Tags  auto shredder, scrapyard, Cycle Systems, Gerdau Long Steel North America, Matt Yeatman, Guilherme G. Johannpeter, Lisa Gordon

PITTSBURGH — Gerdau Long Steel North America has completed its acquisition of a Virginia scrapyard chain as part of its strategy of owning assets near its melting facilities.

The Tampa, Fla.-based steelmaker finalized the deal Feb. 1 for Roanoke, Va.-headquartered Cycle Systems Inc., which sources had suggested to AMM would happen last summer (, Aug. 14). The terms of the deal were not disclosed.....

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