Date Closed

December 15, 2010

Lead Office

Vancouver

Value

51.00 Million CAD

On December 15, 2010 Schnitzer Steel Industries, Inc., acquired the assets of the Steel Pacific Recycling business previously carried on by Selkirk Recovery, Inc.

Schnitzer Steel Industries, headquartered in Portland, Oregon, is one of the largest manufacturers and exporters of recycled ferrous metal products in North America. Its vertically integrated operating platform includes the metals recycling business as well as auto parts and steel manufacturing businesses.

Steel Pacific is the largest metal recycler in the Vancouver Island region of British Columbia with six facilities located along the eastern coast of the island, including a waterfront facility in Victoria, two sites in Campbell River and facilities in Duncan, Courtenay and Nanaimo.  The Steel Pacific operations have been conducted for over 50 years.

McCarthy Tétrault LLP represented Schnitzer Steel Industries, the acquiror, with a team led by Brian Vick.