Scholz Group Acquires Olgin Family’s Interests in Liberty Iron & Metal
Phoenix, Arizona – October 6, 2016 – The Olgin family, Jerry, Marc, Steve and Chad, have decided to sell their interest in Liberty Iron & Metal Holdings, LLC (LIMH) to Scholz United States, Inc. The Olgin family has been in the scrap business since 1932 under the names of: Olgin Iron & Metal, Penn Iron & Metal, AmSource, Liberty Iron & Metal, and most recently since 2007 as Liberty Iron & Metal Holdings, LLC in a joint venture with Scholz Holding GmbH with operations through its affiliates in Pennsylvania, New York, Ohio, Arizona, and Mexico. The Olgin family will be staying on for a transitional period for Liberty Iron & Metal Holdings, LLC.
Mike Diamond will continue as Chief Operating Officer of LIMH and key management will remain in place at each yard. All operations will continue as normal without any disruption.
About Liberty Iron & Metal
LIMH and its network of affiliated subsidiary companies (Liberty Iron & Metal), is among the leading processors and brokers of ferrous and non-ferrous metals in North America. Our network spreads from the Northeast to the Southwest United States and Northern Mexico. Over the course of 8 decades, Liberty Iron & Metal has grown from a small family business to an innovative, technologically advanced, and highly experienced group of recycling companies.
About Scholz Group
Scholz Holding GmbH or one of its affiliated companies (the Scholz Group) is based in Germany with a history dating back to 1872. Today, the Scholz Group is one of the largest recycling companies in the world, consisting of over 100 legal entities and a workforce of more than 5,000 employees. The Scholz Group processes and sells over 6 million metric tons of recycled materials per year at scrap yards, processing and trading desks on three continents and in over 20 countries.
For more information about the Scholz Group, please visit http://www.scholz-recycling.com/en/company/scholz-group.html.