NEW YORK Scrap
processor Cronimet Corp. will open a stainless steel recycling
facility in Cheyenne, Wyo., next month, the company said.
scheduled to open Oct. 21, is "an effort to continuously meet
the growing demand of U.S. stainless steel consumers," Cronimet
said Sept. 26. "This operation is intended to facilitate the
movement of materials from the western part of the U.S. to our
consumers in the east."
The facility "has been
in the works for about a year," Cronimet president and chief
executive officer Frank Santoro told AMM. The
impending ramp-up at Espoo, Finland-based Outokumpu Oyjs
stainless mill in Calvert, Ala., motivated the Aliquippa,
Pa.-based companys decision to facilitate better access
to stainless scrap in western parts of the country
(amm.com, Sept. 19), he added.
"With Outokumpu coming
into the market and adding additional demand to the U.S.
market, were looking at where we can get material
thats outside of the normal area, in the east of the
country, where we get scrap," Santoro said. "Cheyenne has rail
access; its a good cross section, so we can bring scrap
in from the northwestern part of the country.
"The stainless market
is not booming," Santoro added, "but there is demand that
wasnt here prior to six or eight months ago."
Gary Smith, a Cronimet
trader based in Chicago, will manage the Cheyenne facility, and
Don Stamp will come in as a senior trader, the company said.
Stamp is a scrap industry veteran who most recently worked for
Superior, Wis.-based machinery manufacturer Exodus Machines
Cronimet this past
week agreed to purchase "a substantial portion" of
Chicago-based recycler Keywell LLCs assets (
amm.com, Sept. 23). Keywell subsequently filed for
Chapter 11 bankruptcy protection (
amm.com, Sept. 25).