SA Recycling completes FPT facilities purchase

In a move first mentioned at a Cleveland-Cliffs Inc. earnings call in October, Orange, California-based SA Recycling has completed its acquisition of two recycling facilities formerly owned by the Ferrous Processing & Trading (FPT) business unit of Cliffs.

The transaction was reported earlier this week by Fastmarkets and an SA Recycling staff member confirmed the move to Recycling Today.

Comparing a list of former FPT Florida addresses with those now posted to the SA Recycling website, the yards that have changed hands are on NW N. River Drive in Miami (which hosts an auto shredder) and on Northwest 21st Terrace in Fort Lauderdale, Florida.

The website of SA Recycling indicates the firm now operates from more than 150 locations, a figure confirmed by the SA staff member.

SA Recycling is not new to Florida, with existing facilities in Davie, Miami, Opa-locka and Pompano Beach.

Remarks by executives from Cliffs at its October earnings call indicate the remaining FPT facilities also may be sold to one or more prospective buyers.

“We are very excited with the opportunity to continue to sell the remaining portions of FPT as we go,” CEO Lourenco Goncalves said at that time.

FPT originates from Detroit, and Michigan and Ohio remain host to much of the remaining metals recycling network. Of the 26 locations listed on the FPT website, there is one each in Mexico, Ontario, Canada, and Illinois; two each in Mississippi and Tennessee; seven in Ohio; and 12 in Michigan.