European Metal Recycling Limited ("EMR") and Smith Industries, Inc. ("Smith Industries") today jointly announced that they have undertaken a transaction between EMR’s Camden Iron & Metal, LLC subsidiary (“Camden”) and Smith Industries. Under the terms of the deal a holding company, EMR/Smith Industries LLC, has been formed which owns both Camden and Smith Industries. This holding company is jointly owned by EMR and Paul Smith, the previous sole owner of Smith Industries. No further terms of the transaction have been announced.

 

Both Camden and Smith Industries engage in the business of collecting, processing and selling ferrous and non-ferrous scrap metal, together operating 20 metal recycling yards in the Mid-Atlantic region.

 

Commenting on the transaction, Colin Iles, CEO of EMR, said, "We are delighted to combine our Camden operation with that of Smith Industries - a business that we have held in high regard for a number of years. We look forward to working with Paul Smith and his management team to further expand our collective activities."

 

Paul Smith, CEO and President of Smith Industries, added, "This transaction represents the next age of growth for Smith Industries, and combines two operations with very similar cultures and mbitions."

About EMR
EMR is a global leader in metal recycling. Based in Warrington, England, the company employs approximately 2,250 people and operates at over 120 locations around the world. EMR’s core business is the recycling of metal-rich waste streams arising from end of life vehicles, consumer products, industry and construction, resulting in sales of recycled commodities of around 10 million metric tons a year. EMR has had a presence in the USA since 2006 with its USA operations headquartered in New York city.

 

About Smith Industries
Smith Industries is based in Capitol Heights, Maryland. The company operates 13 metal recycling yards in Maryland, Delaware and Virginia with shredders in Capitol Heights and Baltimore