Aceros Arequipa, one of Peru’s largest steelmakers, said this week it has acquired a Florida-based scrap company.
According to a document filing, Aceros Arequipa signed a purchase contract to buy the scrap assets of an undisclosed company, but according to media reports, the company reportedly purchased the former Grimmel Industries shredder in Palmetto, Florida.
Aceros Arequipa said it established two US-based companies, Aceros America Port Manatee LLC and Aceros America St. Pete LLC, through which it completed the acquisition of the Florida-based scrap company.
The company said the acquisition in Florida is an important step to the steelmaker’s verticalization strategy, which will also reinforce the supply of recycled steel to its Pisco mill.
Aceros Arequipa said the assets it bought include a 116,000 square meter yard, a fragmentation facility, as well as a metals magnetic separator, which will allow it to segregate ferrous material to export mainly to Asia.