Company’s North American wheel loader and excavator product lines now part of Hyundai Heavy Industries.
The sale and closing of Doosan Infracore to Hyundai Heavy Industries Holdings Co. (HHIH) became official on August 19, according to a news release from the Suwanee, Georgia, office of Doosan Infracore.
Doosan Infracore will become a subsidiary of the newly created Hyundai Genuine (HG) group alongside Hyundai Construction Equipment (HCE) as “two independent construction equipment companies under HHIH,” according to Doosan Infracore.
HG will act as the intermediary company of HHIH Group’s construction equipment businesses with the intention of allowing both business units to “combine as a global top player, putting us much closer to achieving the goal of becoming a global top five player.”
The plan is to manage overlapping investments and invest heavily in areas like future technologies and innovation, according to Hyundai. “Doosan Infracore will be working diligently to commercialize Concept-X and develop cutting-edge products such as electric excavators, battery packs, hybrid fuel cells and other next-generation products,” adds the firm.
States Doosan Infrastructure, “Independently, the two companies will grow together, complement each other, even compete in good faith in all areas, including technology, production, purchasing, sales and quality. This will enable our business to expand and associate with other companies operated by the whole HHI group.”
Doosan Infracore North America LLC markets the Doosan brand of products that includes crawler excavators, wheeled excavators, mini excavators, wheel loaders, articulated dump trucks, material handlers, log loaders and attachments via more than 160 equipment dealer locations in North America.
Hyundai Construction Equipment, which has a North American office in Norcross, Georgia, makes some of the same products plus has a forklift truck line.
Participation in the Meets Preferred Guidance Review Program encourages companies that manufacture packaging and its components to get an independent assessment.
The Association of Plastics Recyclers (APR), Washington, has launched a new program to recognize companies that develop packaging that meets the “APR Preferred” category under the association’s definition of recyclability outlined in the APR Design Guide for Plastics Recyclability.
Participation in the Meets Preferred Guidance (MPG) Review Program encourages companies that manufacture packaging materials and components and finished packages to get an independent assessment from APR to determine if their products meet the Preferred guidance criteria.
“Poor package design leads to contamination in the recycling stream, which impacts not only the recyclers but also the companies that manufacture packaging,” says Sandeep Kulkarni, the APR technical consultant who manages APR recognition programs. “It reduces the quality of postconsumer recycled resin (PCR) that brands ultimately need to achieve their corporate sustainability goals.”
APR says its MPG Review Program is an engineering assessment of the technical compatibility of either a package design feature or a complete package with today’s plastics recycling processes. Packaging designed to have negligible or no impact on the quality of recycled plastics, as well as negligible or no impact on the productivity of the recycling process, enable a circular economy, the association notes.
The use of plastic packages that achieve the design principles outlined in the APR Design Guide for Plastics Recyclability help to ensure that good quality recycled plastic is available in the market for brands that have committed to using PCR.
“APR supports brands and manufacturers across the country and around the world in ensuring that products and packaging are made to be recycled,” Steve Alexander, APR president and CEO, says. “The APR Design Guide for Plastics Recyclability, coupled with APR training programs, testing protocols and product recognition opportunities such as the Meets Preferred Guidance Review Program, give companies confidence that the items they make can be effectively recycled.”
APR is hosting a free webinar Sept. 14 at 2 p.m. eastern to detail the MPG Review Program, as well as similar programs it offers. Those interested can register here.
The company has promoted Paige Davis to consultant and hired Mary George as project manager.
Gershman, Brickner & Bratton Inc. (GBB), a solid waste management consulting company based in McLean, Virginia, has announced the promotion of Paige Davis to GBB consultant II. The company also announced the hiring of Mary George as GBB project engineer.
According to a news release from GBB, Davis joined the company in 2018, after completing her Master of Science degree in Sustainability Management at American University’s Kogod School of Business in Washington.
She is a member of multiple GBB project teams, providing research, analysis and support on various assignments. These include environmental and sustainability studies, waste audits, feasibility studies, best practices reviews and strategic solid waste management planning.
“In a short period, with her educational background, experience from multiple internships and positive attitude, Paige integrated herself seamlessly as a valuable and sought-after GBB team member,” says Jennifer Porter, GBB vice president and sustainability officer. “This is a well-deserved promotion reflecting her ability to take increasing responsibilities.”
“The consulting world was the logical step following my educational path, and I am excited to contribute more to GBB projects that have a direct impact on communities while learning from industry mentors and advancing my career,” Davis says.
Davis is based out of the Hampton Roads area of southeast Virginia and can be reached at pdavis@gbbinc.com or (703)-663-2432.
As part of the transaction, the company will be renamed Metals Recovery Holdings LLC.
Pittsburgh-based American Zinc Recycling LLC (AZR) has announced that Luxembourg-based Befesa S.A. has purchased all of the stock of American Zinc Recycling Corp. and obtained a minority position in American Zinc Products LLC (AZP). American Zinc Recycling operates four manufacturing facilities in the United States that recycle dust generated by electric arc furnace (EAF) steel mills. Befesa also is a recycler of dust generated from EAF steel mills.
AZR reports that it will continue to own a majority interest in American Zinc Products with a U.S. subsidiary of Glencore S.A. continuing to own the remaining interests. As part of this acquisition, Befesa secured an option for the acquisition of the remaining equity interests in American Zinc Products upon fulfillment of two-phased operational and financial performance milestones before Dec. 31, 2023. According to AZR, the company has a corresponding put option against Befesa and will continue to own all the equity interests in its subsidiary The International Metals Reclamation Co. LLC (Inmetco).
As part of the transaction, AZR LLC will be renamed Metals Recovery Holdings LLC.
AZR says several of its executives have stepped down from leadership with the closed transaction, including Joel Hawthorne, president and CEO of AZR LLC and its subsidiaries; Stephen Bishop, executive vice president and chief financial officer; and Bill Breedlove, chief commercial officer.
“We are grateful for the leadership skills of Joel, Steve and Bill in bringing this transaction to a successful closing, as well as their contributions to the many improvements that have been achieved in all of our operating companies that made this transaction possible,” says Wayne Isaacs, chairman of AZR.
Hawthorne adds, “It has been an honor and privilege to lead and work with the team at AZR LLC through this transition period and the successful completion of this transaction. Befesa is a strong company with a similar operating strategy and will be an excellent steward as they enter the US market with this transaction. The company is poised for even greater success as it enters this next phase in the company’s history.”
Michael Griffin, formerly the executive vice president and chief operating officer of AZR LLC, will become president and CEO of AZR LLC. Andrew Repine, formerly vice president of finance, will become chief financial officer of AZR.
“The entire team at AZR LLC brought us to this pivotal point in the company’s success,” Griffin says. “The EAF recycling facilities will continue their strong performance under Befesa leadership, while AZP and Inmetco focus on achieving the milestones and strategic initiatives ahead of us. At AZP, we have an experienced team in place, committed to bringing the AZP refinery to full capacity, providing 100 percent recycle sourced special high grade (SHG) and continuous galvanizing grade (CGG) zinc to our many customers. Inmetco will continue to provide EAF recycling services to its long-term customers, while increasing nickel and other precious metal recovery by enhancing its postconsumer battery recycling capabilities.”
Company sees triple-digit profit increase in its 2021 fiscal year, which ran from July 1, 2020, to June 30.
A return to better economic and scrap market conditions in 2021 is portrayed in the most recent earnings report from Australia-based Sims Ltd., which operates scrap yards, information technology asset disposition (ITAD) facilities and other recycling operations in the that nation, North America and the United Kingdom.
The first six months of 2021 concluded the company’s fiscal year, and with the most severe COVID-19 impacts having been in the first half of 2020 (and thus the prior fiscal year), the rebound is noticeable.
In its 2021 fiscal year, Sims’ sales revenue grew by 20.5 percent compared with the prior fiscal year, while its underlying earnings before interest, taxes, depreciation and amortization (EBITDA) soared by more than 300 percent.
In the first six months of this calendar year, Sims’ EBITDA rose a whopping 1,320 percent compared with the first six months of 2020, when global economies were severely affected by COVID-19-restrictions.
“We reported a strong set of operational and financial results for the year ended 30 June 2021, including proprietary intake and sales volumes growth and margin expansion year on year, driven by material improvement in market prices,” states Sims Group CEO and Managing Director Alistair Field.
Field adds, “I’m pleased with the strong and sustained second-half recovery and the substantial progress made in advancing our growth strategy during fiscal year 2021, which—coupled with the positive medium and long-term industry drivers—stand us in good stead for fiscal year 2022 and beyond.”
Sims says its underlying earnings before interest and taxes (EBIT) for its North America Metal business unit totaled A$137 million ($99.1 million) in fiscal year 2021. That compares with a loss of A$39 million ($28.2 million) the previous fiscal year. “This increase was due to cost reduction initiatives during the period, improved margins across both ferrous and non-ferrous and contributions from the Alumisource acquisition,” states the company.
Its metals recycling operations in the United Kingdom, Australia and New Zealand also enjoyed much healthier profits in fiscal year 2021 compared with 2020.
The company’s ITAD business unit, Sims Lifecycle Services (SLS), garnered EBIT of A$21.8 million ($15.8 million) in fiscal year 2021 compared with just A$2.9 million ($2.1 million) the prior fiscal year. “The improved EBIT growth trajectory in fiscal year 2021 was due to continued strong interest in the specialized expertise and complete service offerings of the business as well as lower controllable costs compared with fiscal year 2020,” Sims says of its SLS results.