Simsmetal Agrees to Acquire Markovits & Fox

Simsmetal Ltd., headquartered in Sydney, Australia, and one of the largest global metals recycling, resource recovery, and industrial services groups in the world, announced yesterday that it has agreed to acquire 100% of the shares in the San Jose, California-based metal recycling company of Markovits & Fox. M&F have a sales turnover of $37 million and handle around 70,000 tonnes of non-ferrous and ferrous metals a year.

Simsmetal plans to relocate the M&F operations onto its own nearby site in California. It said the increase in material throughput would enable it to improve plant utilization, productivity, and costs. Completion of the acquisition is likely by the end of February.

Edited by Kate Goff