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ArcelorMittal to acquire Quebec metals recycler

  • Author
  • Justine Coyne
  • Editor
  • Tom Balcerek
  • Commodity
  • Metals

Pittsburgh — ArcelorMittal Long Products Canada said Tuesday it is acquiring the assets of Quebec-based metals recycling company Legault Metal Inc., extending the global steelmaker's presence in the Quebec market.

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Legault Metal, which operates faculties in Trecesson, Val d'Or, Rouyn-Noranda and La Sarre, in Abitibi-Temiscamingue, will now operate under the name Legault Metal, a division of ArcelorMittal, and will continue to deliver its services to scrap dealers and individuals, ArcelorMittal said. Financial terms of the transaction were not disclosed.

"We are pleased to welcome Legault Metal Inc., a long-standing supplier, to our organization and further reinforce our presence in the Quebec scrap recycling market," Francois Perras, CEO for ArcelorMittal Long Products Canada, said in a statement. "As the largest recycler of scrap for local use in Quebec, we are further securing our supply of raw materials from this important region and strengthening our value chain. We are excited to extend our footprint to Abitibi and will work hard with the local team to earn the trust of our new host communities."

The approximately 100 people who are currently working for Legault Metal remain employed by the company as of the transaction date, ArcelorMittal said.

ArcelorMittal currently owns a recycling and scrap processing center in Contrecoeur, Quebec, which processes approximately 800,000 mt of scrap per year used by ArcelorMittal's two steel mills in the country.

-- Justine Coyne, justine.coyne@spglobal.com

-- Edited by Tom Balcerek, newsdesk@spglobal.com