NEW YORK Italian steel and engineering firm Danieli & C. Officine Meccaniche SpA has acquired Riverside Products Inc. from Sivyer Steel Corp.
Buttrio, Italy-based Danieli will merge Riversides primary facilities in Iowa and satellite operations in the United Kingdom and China into its Danieli Centro Recycling division. The ongoing business will be known as Danieli Riverside Products.
Established in 1959, Bettendorf, Iowa-based Riverside Products is a leading manufacturer of shredder rotors and wear parts. The company also produces wear-resistant drag lines and hoist chains for the mining industry.
"The wide range of Riverside rotors is long-established and renowned within the scrap metal recycling communities of the world for long life cycle and high quality in both design and operation," Riverside Products president Larry Hotaling said in a statement.
"The combination of our specific expertise in wear-resistant castings with Danieli Lynxs existing shredder know-how will enable the new group to meet the needs of both the smallest and largest scrap processing companies of the world," he added.
Danieli is engaged in the design, manufacture, sale and installation of machines and plants for the metallurgical industry. It also is active in the production and sale of special steel for the automotive, construction and railway industries, among others.