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AUSTRALIA'S SMORGON STEEL ACQUIRES US ASSETS.
SYDNEY, Feb 1 Asia Pulse - Steel maker and metals recycler Smorgon Steel Group Ltd (ASX:SSX) has acquired the operating assets of US metal recycler ITI Inc and Steelport of Florida Inc.
The price of the acquisition was not disclosed.
Smorgon Steel managing director Ray Horsburgh said the acquisition of ITI met the company's strategy of expanding its metal recycling business both within the Asia Pacific region and into more mature markets.
"The ITI business meets our strategic criteria and represents our second major presence in metal recycling outside Australia," Mr Horsburgh said.
"While acquisition of the ITI assets represents an important step towards achieving our strategic objectives, we continue to evaluate other metal recycling opportunities in targeted parts of the global market that fit our criteria," Mr ...
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