The acquisition will help Bengal Machine to expand its position as a size-reduction equipment supplier.
Bengal Machine, Buffalo, New York, the parent company of Schutte-Buffalo Hammermill LLC, acquired CM Recycling Equipment Solutions, Sarasota, Florida, a tire shredding equipment manufacturer and industrial shredding solutions provider.
According to a Bengal Machine news release, the asset purchase of CM Shredder fits with Bengal Machine’s strategy to combine world-class brands in the size-reduction industry into a fully integrated manufacturer offering complete solutions across a wide range of industries and size reduction applications. CM Shredder will offer two brands to service the primary and secondary shredding markets: CM Tire Shredders and CM Industrial Shredders. Bengal Machine reports that Schutte-Buffalo will become Schutte Hammermill and will focus on its hammer mill, crusher and lump breaker product lines.
“With the acquisition of the Columbus McKinnon shredder business and the combination with our Schutte Hammermill product lines, now under the Bengal Machine banner, our company has moved into an ideal position to become the size-reduction equipment supplier for nearly every market need, regardless of the products or materials our customers are working with,” says Martin Berardi, CEO of Bengal Machine. “The purchase represents a strategic opportunity to add significantly to our worldwide installation base and grow our capacity and scale.”
The management team and new ownership are looking forward to a bright future together for CM Shredder, Schutte Hammermill and their combined customers.
Charles Astafan, general manager of CM Shredder, adds, “CM Shredder is really looking forward to a very positive relationship together with another leader in size reduction equipment manufacture. Both companies bring a long history of customer service and excellence we are confident will continue.”
Illinois-based firm will provide mill services to Beaumont, Texas, wire rod mill.
Burnham, Illinois-based Scrap Metal Services LLC (SMS) has announced that its mill services division, SMS Mill Services LLC, has reached a multiyear agreement with Optimus Steel LLC to provide on-site scrap management services at the Optimus facility in Beaumont, Texas.
Optimus Steel produces a range of wire rods, coiled rebar and billets. The Beaumont electric arc furnace (EAF) steel mill has current melt capacity of around 700,000 tons per year and rolling capacity of 800,000 tons per year. The mill was formerly operated by Brazil-based Gerdau S.A. until it was sold in early 2018 to a Florida-based ownership group that renamed it Optimus Steel.
Optimus Steel and SMS say “key synergies” in the arrangement include shared consulting and management solutions to support Optimus’ productivity enhancement strategies, and the companies cite “shared values in safety, excellence, innovation and collaboration [in] forming the building blocks to a long-term business relationship.”
“This contract is an integral part of SMS’s ongoing efforts, which includes a diversified presence in the domestic and international markets, as SMS is targeting and actively expanding its mill service activities to align with its overall growth initiatives,” says Jeremy Kirchin, CEO of SMS.
Comments Jim Kerkvliet, CEO and president of Optimus, “We are pleased to have found a partner that is aligned with the business philosophies of Optimus Steel and supports our goal of becoming a world class steel mill in terms of safety, quality, value and innovation. This agreement with SMS helps us to continue to strive for perfection in everything we do.”
SMS operates scrap processing, steel mill services, ship dismantling and recycling and truck and railcar dismantling facilities in the United States. The company supplies ferrous and nonferrous scrap commodities to domestic and international consumers and offers brokerage and trading services to other scrap companies. Together with its affiliates, SMS has operations in the United States, Europe and Mexico. It describes SMS Mill Services as a provider of mill support, processing and management services for metals producers.
Steve Martz has more than 30 years of experience in the recycling and waste industry.
Charlotte, North Carolina-based BACE LLC has hired Steve Martz, a recycling equipment industry veteran with more than 30 years of experience in the recycling and waste industry.
“Steve has a unique background that covers technical service, manufacturing, equipment repairs, preventive maintenance programs and new product development,” says Gregory Leon, BACE's senior vice president of sales and marketing. “Our number one customer priority is to reduce service calls, which saves our customers money and minimizes down time. With our national service offering tripling in growth this year, we are fortunate to be able to bring in someone of Steve's caliber and accelerate our 2019 growth plans,"
Comments Frederick Waite, BACE’s CEO, “We exceeded our growth expectations in 2018, and I am confident 2019 will be another banner year for BACE. Significant growth requires the right leadership components and Steve fulfills an important role for BACE. We are excited to welcome him to the BACE family.”
Kody Kennedy will be responsible for more than $2 million of inventory.
Stadler America, Colfax, North Carolina, appointed Kody Kennedy as its new parts and warehouse manager. Stadler specializes in sorting, separation and processing equipment for the waste and recycling markets.
Kennedy has five years of parts distribution experience in automotive parts analysis and automotive parts distribution. His warehouse and technical parts experience will focus on providing quick service and response for Stadler customers’ parts, repair and maintenance needs.
In the new position, Kennedy will be responsible for more than $2 million of inventory in North Carolina to ensure that parts are in stock and that a quick response can be made for any type of needed part.
“I am excited that my goals blend so well with the Stadler company goals,” Kennedy says. “We feel that the parts and service response is something to be planned for and anticipated in order to keep our customers’ systems running seamlessly and without unnecessary downtime.”
Prior to joining Stadler, Kennedy spent most of his career in the automotive parts arena, which will serve him well as he quickly engages the waste and recycling markets.
New-Indy Containerboard purchased the mill for about $300 million.
Montreal-based Resolute Forest Products Inc. completed the sale of its kraft pulp and paper mill in Catawba, South Carolina, to Ontario, California-based New-Indy Containerboard LLC on Dec. 31, 2018. The company initially announced terms of the asset purchase agreement on Oct. 2, 2018.
According to a news release from Resolute Forest Products, the total purchase price of about $300 million consists of $260 million in cash, before customary closing adjustments, and the assumption of about $40 million of balance sheet liabilities, largely net pension benefit obligations.
“We are pleased to have completed the sale of the Catawba mill to New-Indy and wish the new team every success with its investment in the diversification of the mill's operations,” says Yves Laflamme, president and CEO of Resolute Forest Products. “We want to thank our employees for their hard work and dedication toward this successful outcome and are pleased that the community will continue to benefit from the mill’s economic and social impact.”
As previously disclosed, Resolute has agreed to use the majority of the proceeds from the asset sale to repurchase $225 million of its 5.875 percent senior notes due in 2023. TM Capital Corp. served as Resolute’s financial advisor on the transaction, while Akerman LLP and Troutman Sanders LLP acted as Resolute’s legal counsels.