Yamato Kogyo announced on Thursday the subsidiary, Yamato Kogyo America purchased 49% interest of Advanced Steel Recovery, which is US ferrous scrap dealer. Yamato Kogyo tries to secure steel source through the acquisition of container based scrap exporter. Advanced Steel Recovery collects and sells scrap in US west coast and traded 265,000 tonnes in 2007. The firm exports 75% of the volume. Yamato Kogyo decided the acquisition with expectation for the scrap business growth of Advanced Steel Recovery. Around 7 million tonnes per year of scrap is exported to Asian market from US west coast. Advanced Steel Recovery exports scrap with container cargos with the original patent for scrap loading in container. The firm expands the export to meet small lot orders.
Japan Steel Scrap Composite Prices (Sangyo Press)
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