EVRAZ Announces Purchase of Two Sims Metal Management Assets
2 October 2012 - EVRAZ plc (LSE: EVR) announces the purchase of two recycling assets from Sims Metal Management. Located in Denver and Colorado Springs, Colo., the scrap yards will become part of EVRAZ Recycling, a division of EVRAZ North America. The purchase price is not disclosed.
“This acquisition will support our long-term strategic goal to optimize EVRAZ steel mill input costs,” said John Zanieski, President – EVRAZ Recycling. “In conjunction with several other suppliers in the Colorado ferrous scrap market, these new assets will expand our ability to meet the scrap requirements of the EVRAZ Pueblo facility.”
EVRAZ Pueblo employs 1,200 people and makes rail, seamless pipe, rod and coiled reinforcing bar from melted scrap for oil and gas, rail, construction and other industries.
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