Steel Group Ltd., headquartered in Australia, is acquiring the operating assets of Industrial Metal Recycling (IMR) for an undisclosed sum.
Steel Group has integrated its two processing businesses, ANI Mineral Processing and Bradken Mills & Crushers, into one unified division, Bradken Mineral Processing.
Australian electric are furnace (EAF) steelmaker Smorgon
Steel Group Ltd.
"Our stated corporate strategy includes the expansion of our metal recycling business both within the Asia-Pacific region and into more mature markets," Smorgon
Steel's Managing Director and CEO Ray Horsburgh says.
Steel Group, based in Australia, is looking to expand its scrap metal operations in China.
Steel Group says its outlook for 2005 remains positive despite continued pressure from the high cost of raw materials.