Mexico's ROCA acquired by Steel Dynamics
5 Oct 2022 16:56 reported by Lily Nguyen
US steel manufacturer Steel Dynamics, Inc. announced that it has completed its acquisition of ROCA ACERO, S.A. de C.V. (ROCA), a Monterrey-based company that operates ferrous and nonferrous scrap metals recycling business. The acquisition was part of the company's North American raw material procurement strategy, available to be funded with cash.
ROCA currently ships around 575,000 gross tons of scrap yearly and has an estimated annual processing capability of around 850,000 gross tons.
Mark D. Millett, Chairman, President, and CEO of Steel Dynamics, said that the acquisition will greatly empower the company's ferrous and nonferrous raw material procurement strategy in Mexico.
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