EMR and Smith Industries strike US deal

Archiv – United States | US-based Smith Industries and Camden Iron & Metal, the American subsidiary of scrap metal giant European Metal Recycling (EMR), have merged their activities in the USA.
Under the terms of the deal, a holding company – EMR/Smith Industries LLC – has been formed which owns both Smith Industries and Camden. This entity is jointly owned by EMR and Paul Smith, formerly the sole owner of Smith Industries. No further details of the transaction have been announced. United States | US-based Smith Industries and Camden Iron & Metal, the American subsidiary of scrap metal giant European Metal Recycling (EMR), have merged their activities in the USA.
Under the terms of the deal, a holding company – EMR/Smith Industries LLC – has been formed which owns both Smith Industries and Camden. This entity is jointly owned by EMR and Paul Smith, formerly the sole owner of Smith Industries. No further details of the transaction have been announced.
Both Smith Industries and Camden are engaged in collecting, processing and selling ferrous and non-ferrous scrap, together operating 20 metal recycling yards in the Mid-Atlantic region.
Colin Iles, CEO of UK-based EMR, comments: ’We are delighted to combine our Camden operation with that of Smith Industries – a business that we have held in high regard for a number of years. We look forward to working with Paul Smith and his management team to further expand our collective activities.’ Based at Warrington in north-west England, the company employs some 2250 people and operates at over 120 locations around the world. EMR has maintained a New York City-headquartered presence in the USA since 2006.
Paul Smith, CEO and President of Smith Industries, adds: ’This transaction represents the next age of growth for Smith Industries, and combines two operations with very similar cultures and ambitions.’ Based in Capitol Heights, Maryland, the company operates 13 metal recycling yards in Maryland, Delaware and Virginia, with shredders in Capitol Heights and Baltimore.