NEW YORK Shapiro Metals Holding Co. has increased its footprint in Texas with the launch of its third scrap collection and processing facility in the state.
The St. Louis-based metals recycler on June 17 opened a 40,000-square-foot facility in Denton and expects processing to start by July. The site is the companys ninth scrap recycling facility in the country, president and chief executive officer Bruce Shapiro told AMM.
The launch was triggered by the addition of new industrial accounts in the Dallas area, he said.
The company, which primarily focuses on nonferrous metals, processes more than 100 million pounds of nonferrous scrap per year, Shapiro said. It also processes 50,000 gross tons of ferrous scrap annually.
Shapiro didnt offer any details on the project investment or any other imminent yard launches, except to note that "there are a couple of other irons in the fire."
He ruled out any acquisitions, however, noting that the company will continue to grow organically only.
"All our growth has been organic. We dont look at acquiring companies," he said.
The scrap industry is expected to improve in the coming months, Shapiro said when asked if the current business environment was conducive to such expansions.
"Industry margins are a bit tighter at the moment, but I think things will improve. ... They are getting better. Manufacturing is steady, aerospace is good, automotive is good and the trailer business is decent," he said.