ArcelorMittal long products Canada and Triple M Metal are uniting to create a joint venture called Integrated Metal Recycling (Integrated).
The companies, which operate in the Canadian metal recycling industry said in a joint press release on Tuesday, that the merger will combine activities to provide additional options and services for consumers and suppliers within the scrap industry.
The new union will give recyclers in Quebec additional channels for ferrous scrap that includes providing for ArcelorMittal’s steel plants, Triple M’s aluminum consumers, and other recyclers. The scrap metal demand for Integrated is expected to be varied and continual, the press release noted.
The enterprise will offer added prospects to recyclers for selling scrap on a consistent basis while aiding relationship-building with reliable sources. Integrated will also maintain the nonferrous processing of metals as part of its provisions.
The four Legault Métal sites (Abitibi-Témiscamingue, Quebec) acquired by ArcelorMittal Long Products last year will be part of Integrated as will Triple M’s Metrobec facilities in Saint-Hubert (Longueuil), Quebec.
François Perras, president and chief executive officer of ArcelorMittal Long Products, said the endeavor will make the needed scrap metal grades available and lead to a broader span in scrap buying and processing options.
Oscar Moniz, president of Triple M Metal commented on the strong, longstanding relationship between the two companies and believes the combined aptitude will provide the industry with the needed options on cost and service.
ArcelorMittal Long Products has an annual production capacity of over 2mn mt of steel. The company operates five scrap recycling/ processing facilities, two steel plants, three rolling mills, two wire-drawing plants, and an iron ore reduction facility.
The group employs around 1,600 workers in Contrecoeur, Longueuil, and Montreal; around 100 in Abitibi-Témiscamingue and approximately 200 in Hamilton.
Triple M Metal is among the largest North American privately-owned ferrous and non-ferrous metal recyclers with 27 locations across North America including Canada, the US, and Mexico, and has business interests in Europe.