AMG Resources Acquires Galt Alloys
AMG Resources, a business based in Pittsburgh, recently announced that it has purchased the assets of Galt Alloys, a Canton-based manufacturer of ferro-titanium and ferro-aluminum. The acquisition was made via an affiliate company, AMG stated.
AMG reports that Galt Alloys melts scrap to create materials that are essential to the steelmaking industry. These include ferro-titanium lump and powder, along with ferro-aluminum ingots.
“Like AMG Resources, Galt Alloys specializes in producing premium, known-chemistry raw materials for the steelmaking industry,” comments Eric Goldstein, president of AMG Resources.
“AMG Resources has been a key supplier of titanium and aluminum scrap to Galt Alloys and is excited about the opportunities that this acquisition will provide for both companies to better serve their customers.”
Canton Facility Capabilities
On its webpage, Galt Alloys reveals its Canton plant “houses four induction furnaces that can melt a full load (45,000 pounds) per day and our crushers can produce a full load of lump and powder in that same time.”
AMG has circulated that the purchase will expand its presence in the metals and manufacturing industries of America. Further explaining that this move will add breadth to its already broad standing within these sectors.
“In addition to being one of the nation’s largest ferrous and nonferrous scrap metal processors and marketers, AMG Resources is a leading seller of prime and secondary steel products, and its International Steel & Counterweights LLC affiliate is the United States’ largest manufacturer of steel counterweights, primarily for use in elevators and heavy equipment, and a major distributor of elevator rails,” the company says.
AMG Gains Strauss Industries
In 2021, AMG contributed a substantial investment into the scrap sector with its purchase of Strauss Industries. The company is headquartered out of West Virginia, and owns several facilities throughout Weirton, Benwood, Wheeling and West Alexander, Pennsylvania. This accession includes Automatic Recycling Inc., Herman Strauss Inc. and Strauss Automotive.
Strauss has developed a wide range of services in the scrap metal industry, such as the use of “a proprietary nuggetizer that produces the industry’s highest quality” coolant scrap, aluminum deox and other specialty grades. Plus, Strauss has the largest auto shredding facility in West Virginia (Automatic Recycling).
This is accompanied with its barge-loading facility on the Ohio River, which supplies downriver markets with scrap. In addition, Strauss provides shearing, baling and torching operations as well as a self-service recycled auto parts retail business (Straus Automotive).
“Strauss’s barge-loading capabilities will also provide greater opportunities for AMG Resources to supply customers via the river and will supplement our sizeable private railcar fleet.”
A Substantial Presence
AMG Resources and its associated entities have a vast presence throughout the United States with 20 scrap-processing plants, 18 commercial offices, and operations in Europe as well.
With nine ferrous and nonferrous scrap-processing enterprises located in western Pennsylvania, eastern Ohio, and northern West Virginia, the company is proud to showcase its “particularly strong footprint” within the Ohio Valley region.
“Strauss’s existing businesses will be a great complement to AMG Resources given our focus on producing high-quality, known-chemistry scrap products and our strong existing presence in the Ohio Valley market,” Goldstein states.
