CHICAGO Matalco Inc. plans to build a greenfield remelt extrusion billet facility in the United States with an annual production capacity of 300 million pounds of billet.
The Brampton, Ontario-based company said it has short-listed a number of states, and senior management is expected to make a final decision in the coming weeks.
The expansion will include and integrate a new Triple M Metal LP nonferrous plant that will procure and handle Matalcos aluminum scrap requirements as well as process nonferrous materials independent and separate from Matalco, the company said.
Like Matalco, Triple M, a metals recycler, is based in Brampton and part of the Giampaolo Group.
We are extremely excited about this next phase of our corporate growth plan, Matalco president Armand Sanguigni said in a statement.
The expansions will boost the companys market share in direct response to the growth and demand that we are experiencing with our products and services, he said.