Banner
News

Wise Recycling announces merger with Source Recycling

July 1, 2014 - Wise Metals Group announced the merger of Wise Recycling with Source Recycling. The merger will combine Wise's five yards in Colorado, North Carolina, Florida, and Virginia along with Wise’s extensive network of feeder locations in six states with Source Recycling's three yards in Maryland and North Carolina and one feeder in Maryland. The new company will be named Wise Recycling and all of the yards will operate under the Wise Recycling name and logo. Wise will own a majority of the equity in the new company which will consist of a new class of preferred interest and a portion of the common equity.

The merger will consolidate Source's and Wise's Carolina operations as well as add Maryland to the new Wise's portfolio of yards.

Wise will continue to operate independently its seven New Mexico yards as Wise Recycling–New Mexico and its Kentucky yard as Wise Recycling–Kentucky.

Wes Oberholzer, president and chief operating officer commented, "We believe the creation of the new Wise will position it as a more effective competitor in all the markets Wise serves and we are excited about the prospects of this business going forward."

current-box-latest-issue-red-mm 
MM-Cover-2-15-currentnew

vert-current-linewhiteFEBRUARY 2015

BROOD OVER CRUDE

A sharp drop in oil pricing has a ripple effect but how far it spreads depends on timing and fortitude.

> READ THIS
MONTH'S ISSUE

Midwest-MM-home-ad-5

Advertisement

Modern Metals on Twitter

Banner

Industry Partners

Alloy Bar Products

Laser Technology

Sawing Technology

Steel

Sierra Alloys Amada America, Inc. Sawblade.com Parker Steel Co.

Capabilities Guide

Machining Centers

Service Centers

Specialty Steel Company
Copper and Brass Servicenter Association Handtmann CNC Reliance Steel & Aluminum Company Summit Steel Corporation

Coil Processing

Material Handling

United Performance Metals

Titanium

Braner USA The Caldwell Group, Inc.

Software

TSI Titanium
Butech Bliss Combilift USA Enmark Systems, Inc.

Tube & Pipe

Red Bud Industries

Perforated & Expanded Metal

SStainless, nickel, aluminum, pipe, tube & bar

Independence Tube Corp.

Large Diameter Heavy Wall Steel Pipe & Tube

McNichols Co. Prudential Stainless & Alloys, L.P.

Waterjet

Specialty Pipe & Tube

Plate

 

Flow International

Laser

Churchill Steel Plate Ltd

 

Koike Aronson, Inc.
Mitsubishi Laser-MC Machinery Systems, Inc.

 

 

 

TrendPublishing

twitter facebook linkedin rss

 

FFJ-0215-brandingcovers