Steel Dynamics has agreed a deal to take over the Mexican recycler Roca, which operates a ferrous and non-ferrous scrap business from headquarters in Monterey.
Roca has four scrap processing facilities near high-volume industrial scrap sources throughout central and northern Mexico. The combined facilities currently ship approximately 520 000 tonnes of scrap annually and have an estimated annual processing capability of approximately 770 000 tonnes.
‘We look forward to adding Roca to the Steel Dynamics family to further solidify our southwest US and Mexico growth strategy,’ says Mark D. Millett, chairman, president and ceo of Steel Dynamics. ‘Combined with our existing North American metals recycling facilities, the addition of Roca significantly strengthens our raw material procurement strategy in the region.’
Millett adds that, once completed, the deal will result in its Mexican scrap facilities providing greater competitive advantage to its US electric arc furnace steel operations.
The transaction is subject to the customary closing conditions and receipt of required regulatory approvals.
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