PITTSBURGH Rumors are swirling that Chicago might be getting a new shredded scrap player.
Recyclers in the dense steelmaking area have indicated that Chicago-based Acme Refining Co. and Scrap Metal Services LLC (SMS), Burnham, Ill., are entering a joint venture to construct a shredder near the citys central business district.
Neither company would comment, but the two are scheduled to close on a 12.88-acre site in Chicago by the end of the month, according to a manager at the property. After the property is sold, the current owner and the business will vacate to make room for the planned scrapyard, the manager said.
The site, which currently has three buildings, also offers barge access and is zoned for industrial use. It also is eligible for several government incentives.
Acme would be able to provide feedstock for a shredder from its scrapyards in and around the Chicago area, and SMS has a facility about 20 miles from Chicago.
New York-based Sims Metal Management Ltd. and Chicago-based General Iron Industries Inc. both operate shredders in Chicago.