NEW YORK Metro Metals
Northwest Inc. has purchased Colorado mega-shredder All
Portland, Ore.-based Metro
Metals earlier this week completed its acquisition of all the
assets of All Recycling, just a year and a half after it picked
up a 50-percent stake in the Englewood, Colo.-based
Metro Metals president Victor
Winkler told AMM the deal was completed after All
Recyclings owners expressed their desire to retire from
"We bought half of All Recycling
18 months ago because it was a very good fit for us. A few
weeks ago, (the owners) told us they wanted to retire. I
didnt expect it to be this quick," Winkler said.
"Its a beautiful operation, so we stepped in and bought
the entire operation."
Although the companies did not
disclose any financial details, an industry source said the
acquisition cost "in the hundreds of millions" of dollars.
Metro Metals will retain all of
All Recyclings employees and "only make changes to the
business model," Winkler said.
The company expects to complete
a few more acquisitions in the coming months, he said.
"Its getting bigger. Were working on other
acquisitions in other regions. Were pushing to cross $1
billion in sales for 2013 and were getting close to
All Recyclings 20-acre
facility houses a 6,000-horsepower mega-shredder, the largest
in the Denver area. The facility, which ships an average of
40,000 tons of ferrous scrap per month, is focused primarily on
domestic business, Winkler said.