Steel Dynamics, Inc. announced that as part of its North American raw material procurement strategy, the company has entered into a definitive agreement to acquire the equity interest of ROCA ACERO S.A. de C.V. to be funded with available cash. ROCA is headquartered in Monterrey, Mexico and operates a ferrous and nonferrous scrap metals recycling business. ROCA’s primary operations are comprised of four scrap processing facilities, strategically positioned near high-volume industrial scrap sources located throughout Central and Northern Mexico. These combined facilities currently ship approximately 575,000 gross tons of scrap annually and have an estimated annual processing capability of approximately 850,000 gross tons.
This transaction is subject to customary closing conditions and receipt of required regulatory approvals.
Published in the September 2022 Edition