Simsmetal Buys Us Metals Company
Sydney Morning Herald
Thursday February 11, 1988
The metal recycling subsidiary of Peko Wallsend Ltd, Simsmetal Ltd, announced it has acquired the assets and business of a United States-based company, Levin Metals.
In a statement, Simsmetal said Levin Metals was the metal division of a major West Coast scrap merchant, LMC Corporation.
Simsmetal has also bought the assets and business of plastic reclamation division of Sarlon Industries Pty Ltd to complement its own plastic reclamation operation.
Purchase prices for both acquisitions were not disclosed.
Levin Metals, a major supplier of ferrous and non ferrous metals for domestic and Pacific Rim markets would complement Simsmetal's existing export activities, the report said.
Simsmetal would operate Levin Metals as IMC Metals, a division of Simsmetal USA Corporation,to maintain continuity with both domestic and overseas customers.
The daily operation of the company would remain largely in the hands of the existing management team, the report said.
Levin Metals' major processing plant was based in Richmond, Northern California with other operations in San Jose, Stockton, Sacramento and Redwood City.