Gerdau acquires Cycle Systems
Gerdau has completed the acquisition of certain operating assets of Cycle Systems, Inc., a metal recycling company based in Roanoke, Virginia. The transaction will expand Gerdau’s presence in the competitive mid-Atlantic region.
“This purchase supports our goal to minimize billet cost by having scrap sources closer to our steel mills.” said Guilherme G. Johannpeter, president of Gerdau’s North American long steel division.
Cycle Systems has nine locations throughout central and western Virginia, including a shredder and several feed yards. All together, the company processed nearly 185,000 tons of materials in 2011.