NEW YORK ArcelorMittal SA has sold two scrap facilities in Canada to a large metals recycling company, sources have told AMM.
The steelmaker has sold two scrap collection facilities in New Brunswick to Montreal-based recycler American Iron & Metal LP (AIM), several market sources said.
Neither company responded to requests for comment.
However, calls put in to scrap facilities previously registered to ArcelorMittal in Bathurst and Scoudouc, New Brunswick, were answered by AIM.
A call to the Bathurst facility was answered by an employee of AIM, while a call to the Scoudouc plant was answered by a machine with a message that said, "Welcome to American Iron Recycling Scoudouc."
ArcelorMittal operated a shredder at the Scoudouc facility, with one source saying the shredder was "outdated."
AIM isnt currently operating the shredder at Skoudouc, a second source said.
Because neither company has confirmed the development, no details were available on the reason for the sale or the acquisition cost.
"It makes sense for AIM to expand in New Brunswick because they already have a big operation there and have invested heavily in the area," a third source said.