Posted on 05 Aug 2020
Steel Dynamics Inc. has completed its purchase of Mexico-based scrap processor Zimmer, which will supply recycled metal to the company's new flat-rolled steel mill under construction in Texas.
SDI's $1.9 billion electric-arc furnace flat-rolled steel mill under construction in Sinton, Texas, remains on track to begin operations mid-year 2021, SDI said in a statement August 3.
Zimmer, headquartered in Monterrey, Mexico, operates a ferrous and nonferrous scrap metals recycling business, with its primary operations comprising six scrap processing facilities throughout Central and Northern Mexico. It also operates several third-party scrap processing locations.
These combined facilities currently ship approximately 500,000 st of scrap annually and have an estimated annual processing capability of approximately 2 million st, according to SDI.
A purchase price was not disclosed, but SDI said the transaction was funded with available cash.
SDI first announced its acquisition of Zimmer in March 2020.
Source:Platts
