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Schnitzer Steel Industries Inc. is the new owner of a scrap-metal processor in Billings, Montana, managers of the Portland-based company said today.
Schnitzer's subsidiary, SSI Big Sky, acquired substantially all the assets of Golden Recycling & Salvage Inc., which it will operate as Schnitzer Steel Billings. Terms of the transaction weren't disclosed.
Golden has been collecting, processing and recycling scrap metal from greater Billings for 19 years. The company's annual sales are about $1.8 million, and it has 22 employees, according to the Billings Gazette.
Schnitzer has been growing aggressively in recent years, and the latest acquisition positions the company for additional expansion in Montana, said Don Hamaker, president of Schnitzer Steel's metals recycling business.