May 30, 2014
Commercial Metals Co. (CMC) has agreed to purchase most of Newell Recycling of San Antonio LP for an undisclosed amount.
Irving, Texas-based Commercial Metals, which recycles and makes metal products, said that along with the purchase of San Antonio-based Newell, it is acquiring a shredder from The Shredder Co. Commercial Metals will determine in the next six to 12 months whether to continue operation of a shredder at the current Newell location and the best location for the new shredder, according to a news release.
The acquisition was made through Commercial Metals’ wholly owned subsidiary Structural Metals Inc. The company expects the deal to close June 13.
Commercial Metals said Newell Ltd. will retain the Media Plant operation located at the San Antonio site, as well as the shredder operations of Newell Recycling in Eagle Pass, Texas.
“This acquisition of the assets of Newell Recycling continues the vertical integration of CMC by providing raw materials for its CMC Steel Texas location, establishes a larger recycling presence in San Antonio … and provides an opportunity for continued growth of our recycling operations in the central Texas area,” the company said. Joseph Alvarado is chairman and CEO of Commercial Metals.