MetalX Expands with Acquisition – Inside INdiana Business

Fort Wayne-based scrap metals recycler MetalX is increasing its operations in northeast Indiana. The corporate has acquired SRT Aluminum in Wabash, an aluminum recycler and melting operation.

MetalX says incorporating aluminum melting capabilities has been on its radar for a while, as a part of its marketing strategy to increase.

“This acquisition will get us instantly into the enterprise in a significant method and is a stable platform for progress,” stated Danny Rifkin, MetalX chief govt officer. “Moreover, it secures our personal manufacturing wants, broadens our service choices for present prospects, and helps our concentrate on creating new and sustainable strategies to create high-quality scrap and secondary merchandise.”

SRT at present employs 120 staff, and all are anticipated to hitch MetalX upon closing of the deal in July.

“We view aluminum melting as a beneficial and complementary addition to our scrap enterprise and see super potential to develop the enterprise, together with new tasks to extend capability,” stated MetalX Govt Vice President Neal Rifkin.

Collectively the expanded firm will deal with greater than 350 million kilos of nonferrous scrap yearly.