NEW YORK Prime Materials Recovery Inc. (PMR) is
targeting an increased presence in the Latin American and
Caribbean scrap metal import market with its acquisition of
Miami-based Allied Metal Corp.
PMR chief executive officer Bernard Schilberg told AMM that
Allieds presence in the Latin American scrap market was
very attractive to our strategic plan for metal
procurement, noting that Allieds warehouse
facilities are within a mile of the Port of Miami.
We felt we needed a presence in Latin America, he
said. We can now market material coming from Latin
America in the United States, as well as Asia.
Allied founder Paul Mosheim and its senior management will
remain with the company, continuing to lead its international
Retaining the expertise of Allieds management was a
major driver in the deal, Schilberg said. They
understand the culture of working in Latin America, he
The company will also retain the Allied name. The financial
terms of the transaction were not disclosed.
East Hartford, Conn.-based PMR processes and brokers more than
360 million pounds of nonferrous metals each year via its scrap
processing facilities in Canastota, N.Y.; Willimantic, Conn.;
Shelby, N.C.; and Orangeburg, S.C., according to a statement.
It distributes a range of copper-based alloys, aluminum, tin,
zinc, nickel and lead for resale to mills and foundries.
Allied Metal Corp. is not related to Chicago-based smelter
Allied Metal Co.