Ferrous Scrap
PADNOS acquires three Midwest scrap operations
Written by Ethan Bernard
September 11, 2024
Industrial recycler PADNOS announced its acquisition of three scrap operations in the Midwest.
The Holland, Mich.-based company has purchased Sam Winer & Co. in Elkhart, Ind.; Howe Auto Sales in Bay City, Mich.; and Grandpa’s Garage in Traverse City, Mich.
Terms of the deals were not disclosed.
“These three acquisitions align with our strategy to grow our regional network,” President and CEO Jonathan Padnos said in a statement on Wednesday.
- Recycling center Sam Winer will operate as PADNOS Elkhart.
- Salvage yard Howe Auto Sales will operate as PADNOS Bay City.
- Grandpa’s Garage, also a salvage yard, will be consolidated with the neighboring PADNOS Traverse City location.
PADNOS has more than 900 employees at 30 locations throughout Michigan and Indiana. The company is a recycler of ferrous and nonferrous metals, paper, plastics, and electronics.
Ethan Bernard
Read more from Ethan BernardLatest in Ferrous Scrap
HRC vs. scrap spread continues to widen in September
The price spread between hot-rolled coil (HRC) and prime scrap widened again in September, according to SMU’s most recent pricing data.
September scrap prices come in flat, higher tags seen by end of ’24
September scrap prices came in a soft sideways, with only mild hopes for a higher October, market sources said.
RMU: Ferrous scrap mills have entered September market
Great Lakes-area mills have entered the September ferrous scrap market in a surprisingly prompt manner.
Steel Summit 2024: What’s driving scrap prices?
“It's been a very interesting year in that the price of scrap should have gone down earlier this year."