Gerdau Ameristeel Announces Acquisition of Metro Recycling
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TAMPA, FL, Oct. 27 - Gerdau Ameristeel, a leading mini-mill steel producer, announced today that it has acquired Metro Recycling, a scrap processor headquartered in Guelph, Ontario. Terms of the transaction were not disclosed. Metro Recycling is a premier central Ontario recycler with three locations, two in Guelph and the other in Mississauga.
"Metro's operations and experienced leadership team will enhance Gerdau Ameristeel's continuing strategy to grow our scrap processing capability throughout North America," said Matt Yeatman, Gerdau Ameristeel's Vice President of Raw Materials. "Metro is an excellent complement to our existing recycling and production facilities."
About Gerdau Ameristeel
Gerdau Ameristeel is the second largest mini-mill steel producer in North America with annual manufacturing capacity of approximately 12 million tons of mill finished steel products. Through its vertically integrated network of 19 mini-mills (including one 50% owned joint venture mini-mill), 22 scrap recycling facilities and 66 downstream operations, Gerdau Ameristeel serves customers throughout the United States and Canada. The company's products are generally sold to steel service centers, steel producers, or directly to original equipment manufacturers ("OEMs") for use in a variety of industries, including non-residential, infrastructure, commercial, industrial and residential construction, metal building, manufacturing, automotive, mining, cellular and electrical transmission and equipment manufacturing.
Gerdau Ameristeel's majority shareholder is the Gerdau Group, a 100+ year old steel company, the largest producer of long steel products in the Americas and the world leader in specialty long steel for the automotive industry. Gerdau Ameristeel's common shares are traded on the New York Stock Exchange, and the Toronto Stock Exchange under the ticker symbol GNA.
CONTACT:
Investor Relations Contact: Barbara R. Smith, Vice President & CFO, (813) 319-4324, basmith@gerdauameristeel.com
Media Contact: Steven Hendricks, External Communications, (813) 319-4858, SThendricks@Gerdauameristeel.com
Source: Gerdau Ameristeel Corporation
