Fort Wayne Indiana US headquartered Steel Dynamics Inc announced that as part of its North American raw material procurement strategy, the company has entered into a definitive agreement to acquire the equity interest of ROCA ACERO to be funded with available cash. ROCA is headquartered in Monterrey, Mexico and operates a ferrous and nonferrous scrap metals recycling business. ROCA’s primary operations are comprised of four scrap processing facilities, strategically positioned near high-volume industrial scrap sources located throughout Central and Northern Mexico. These combined facilities currently ship approximately 575,000 gross tons of scrap annually and have an estimated annual processing capability of approximately 850,000 gross tons.Combined with o Steel Dynamics existing North American metals recycling facilities, the addition of ROCA significantly strengthens Steel Dynamics raw material procurement strategy in the region. After closing the ROCA transaction and fully integrating our Mexican metals recycling operations, Steel Dynamics believes that Mexican scrap facilities will provide an even more meaningful competitive advantage to Steel Dynamics US electric-arc-furnace steel operations, while also providing a high-quality, customer centered option for outside scrap customersThis transaction is subject to customary closing conditions and receipt of required regulatory approvals.
Fort Wayne Indiana US headquartered Steel Dynamics Inc announced that as part of its North American raw material procurement strategy, the company has entered into a definitive agreement to acquire the equity interest of ROCA ACERO to be funded with available cash. ROCA is headquartered in Monterrey, Mexico and operates a ferrous and nonferrous scrap metals recycling business. ROCA’s primary operations are comprised of four scrap processing facilities, strategically positioned near high-volume industrial scrap sources located throughout Central and Northern Mexico. These combined facilities currently ship approximately 575,000 gross tons of scrap annually and have an estimated annual processing capability of approximately 850,000 gross tons.Combined with o Steel Dynamics existing North American metals recycling facilities, the addition of ROCA significantly strengthens Steel Dynamics raw material procurement strategy in the region. After closing the ROCA transaction and fully integrating our Mexican metals recycling operations, Steel Dynamics believes that Mexican scrap facilities will provide an even more meaningful competitive advantage to Steel Dynamics US electric-arc-furnace steel operations, while also providing a high-quality, customer centered option for outside scrap customersThis transaction is subject to customary closing conditions and receipt of required regulatory approvals.
