Signature Group Holdings, Inc. (SGH) has entered into a definitive stock purchase agreement to acquire the Global Recycling and Specification Alloys (GRSA) business of privately-held Aleris Corporation (Aleris) for $525 million.
Manufacturers of products made with recycled materials can’t claim offerings were “Made In USA” unless they can show that the materials originated domestically, according to the Federal Trade Commission (FTC).
Metalico, Inc. stated that it is not aware of any events dictating recent declines in its stock price amid unusually heavy volume but speculated they may be the results of aggressive short selling and/or stockholders not completely understanding the company’s recent debt restructuring.
Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported that steel import permit applications for the month of October total 4,382,000 net tons (NT).
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 3,892,000 net tons (NT) of steel in September, including 2,946,000 NT of finished steel (up 5.2 percent and 5.2 percent, respectively, vs. August final data).