Canadian scrap industry undergoes major restructuring

Article Abstract:

General Scrap & Car Shredder Ltd. of Winnipeg, Manitoba, and Canadian steel manufacturer IPSCO Inc. of Regina, Saskatchewan, have agreed in principle to enter a partnership. The move is in line with restructuring trends in the Canadian scrap metal industry caused by low commodity prices requiring firms to operate on economies of scale. Under the agreement, IPSCO will pay the Lazareck Brothers C$37 million over five years to acquire a majority interest. The deal includes General Scrap's four auto shredder facilities and a number of small scrap processing and auto wrecking yards and several auto parts operations throughout Western Canada, North Dakota and Minnesota.

Comment:

Agrees in principle to enter a partnership w/ General Scrap & Car Shredder Ltd

Strategic alliances, Waste Disposal NEC, Other Waste Collection, Saskatchewan, Manitoba, Waste disposal, Ipsco Inc., Article, General Scrap and Car Shredder Ltd.

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Steelmakers lose trade case

Article Abstract:

American steel mills have suffered a setback after the World Trade Organization (WTO) ruled that the US government does not have the legal authority to increase duties on steel coming from Japan. The US has imposed higher duties on Japanese steel since June 1999 together with steel from Russian and Brazil. The WTO is ordering the US government to bring its measures into conformity with international trade rules but the ruling will not be lauded by US steel mills who claim that foreign steel were being sold below market prices in the US.

United States

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Canadian companies get by while awaiting brighter days

Article Abstract:

Scrap metals recyclers in Canada are beset by low commodity prices worldwide. The industry shopped 5,391,000 metric tons valued at C$2.9 billion in 1998, down from a record 5,449,000 metric tons with a dollar value of C$3.4 billion a year ago. Compounding the problem is the collapse of the Asian market and steel dumping by Mexico, said Jack Lazareck, president of Logan Iron and Metal Co Ltd.

Canada, Market information - general, Recyclable Material Wholesalers, Scrap Metals

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