US metals group makes fourth acquisition

USA – Ohio-based PSC Metals has bought Shapiro Brothers, which buys, sells and processes scrap and operates out of four locations in Missouri, Illinois and Arkansas.

PSC, part of Icahn Enterprises, paid US$ 22 million for the chain of scrapyards owned by Greg and David Shapiro. The company employs more than 60 people, all of whom will be retained.
The acquisition, PSC’s fourth in 2011, will boost its presence in the US Midwest. The company, operating from Mayfield Heights, Ohio, takes over Shapiro Brothers’ shredding facility in Festus and feeder yard in Moberly, Missouri, as well as a processing yard and non-ferrous warehouse in Granite City, Illinois, and a feeder yard in Paragould, Arkansas.
In previous deals this year, PSC purchased Cash’s Scrap Metal & Iron, with five locations in Missouri; a full-service feeder yard in Wright City, also in Missouri; and Wedel Iron and Metal in Crossville, Tennessee.