Metal Management and Southern Holdings divest Southern Recycling

Scrap metal recycler Metal Management Inc. and Southern Holdings LLC today announced the sale of Southern Recycling LLC to European Metal Recycling Ltd. for $161.4 million in cash. Headquartered in Covington, La., Southern Recycling is the largest scrap metal recycler in the Gulf Coast region with 15 facilities in Louisiana, Alabama, Mississippi and Florida. Prior to the sale, Southern Holdings owned 71.5 percent of Southern Recycling, while Metal Management owned the remaining 28.5 percent.