Ferrous Processing buys recycler

From: Crain's Detroit Business | Date: August 3, 1998| Author: | Copyright information

JEFFREY McCRACKEN

Ferrous Processing & Trading Co., a Detroit-based scrap-metal recycler, last week acquired Windsor-based recycler Zalev Metals Inc. in a move that creates one of the largest scrap companies in the Midwest.

The deal brings together two privately held recyclers, both with sales near $200 million and strong local ties to the automotive and steel industries. It also brings in Detroit businessman Anthony Soave, who will be the majority shareholder of Ferrous Processing.

Soave, who sold his Detroit waste-hauling company, City Management Corp., in January for $750 ...

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