Gold Mountain Recycling to acquire Steel & Resources Co. Ltd.

Gold Mountain Recycling to acquire Steel & Resources Co. Ltd.
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Gold Mountain Recycling Inc., Los Angeles, has announced that it plans to acquire Steel & Resources Co. Ltd. in South Korea for nearly $30 million in stock.

Through the agreement, Gold Mountain Recycling will acquire Steel & Resources’ metal processing plants, inventory assets, the real estate properties and related assets of its scrap metal recycling facilities in Asan, Dangjin Port and Incheon Port and the established and trusted exportations to areas worldwide.

Gold Mountain says Steel & Resources Co. Ltd. is the only listed company in the scrap industry in South Korea showing sustainable growth of scrap sales, exporting worldwide, including to Southeast Asia and India. India is the company’s largest exporting destination and also is the fourth largest metal importing country in the world, the company says.

Through the company’s Dangjin Port yard, it can transport 20,000 tons to 30,000 tons per load more efficiently and cost effectively than if it used overland transport, Gold Mountain says.

The acquisition of Steel & Resources Co. Ltd aligns with Gold Mountain Recycling’s strategy to expand its global presence through existing channels. With this acquisition, Gold Mountain Recycling says it will grow its value-added businesses and further strengthen its role in the ferrous and nonferrous scrap industry. Gold Mountain Recycling says it will expand Steel & Resources Co. Ltd.’s variety of scrap metal offerings and add advanced technologies and materials. 

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Source: Recycling Today
Gold Mountain Recycling to acquire Steel & Resources Co. Ltd.
<![CDATA[Gold Mountain Recycling Inc., Los Angeles, has announced that it plans to acquire Steel & Resources Co. Ltd. in South Korea for nearly $30 million in stock. Through the agreement, Gold Mountain Recycling will acquire Steel & Resources’ metal processing plants, inventory assets, the real estate properties and related assets of its scrap metal recycling facilities in Asan, Dangjin Port and Incheon Port and the established and trusted exportations to areas worldwide. Gold Mountain says Steel & Resources Co. Ltd. is the only listed company in the scrap industry in South Korea showing sustainable growth of scrap sales, exporting worldwide, including to Southeast Asia and India. India is the company’s largest exporting destination and also is the fourth largest metal importing country in the world, the company says. Through the company’s Dangjin Port yard, it can transport 20,000 tons to 30,000 tons per load more efficiently and cost effectively than if it used overland transport, Gold Mountain says. The acquisition of Steel & Resources Co. Ltd aligns with Gold Mountain Recycling’s strategy to expand its global presence through existing channels. With this acquisition, Gold Mountain Recycling says it will grow its value-added businesses and further strengthen its role in the…