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Steel Dynamics subsidiary acquires Ohio metals recycler

Written by Stephanie Ritenbaugh

OmniSource LLC, a subsidiary of Fort Wayne, Indiana-based steel producer and recycler, Steel Dynamics, Inc., has acquired Toledo Shredding, LLC, in Ohio.

Terms of the deal were not disclosed in an announcement Thursday by Chicago-based Brown Gibbons Lang & Company.

Toledo Shredding, founded in 2003, is a subsidiary of Fairlawn, Ohio-based ProTrade Group, a fully integrated scrap metal company that specializes in both ferrous and nonferrous metals. ProTrade has four trading offices, two processing facilities and a full-service transportation division with over 300 private railcars.

Toledo Shredding is a 30-acre scrap metal processing facility. Its main operation is a Wendt-designed recovery system located in a 30,000-square-foot production facility.

OmniSource operates about 70 U.S. scrap collection and processing facilities in the United States and Mexico, including 11 operating shredders, which can process more than 7 million tons of ferrous scrap annually and more than one billion pounds of nonferrous metals, according to the Fort Wayne, Indiana-based company.

Brown Gibbons Lang & Company’s Metals & Advanced Metals Manufacturing investment banking team served as the exclusive financial adviser to Toledo Shredding in the transaction.

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