PRESS RELEASE
 

CSR SIGNS DEFINITIVE AGREEMENT TO ACQUIRE BRANDYWINE RECYCLING

 

July 8, 2008 -- YORK, PA – Consolidated Scrap Resources, Inc. (CSR), York, PA, is pleased to announce that it is acquiring the recycling business assets of Brandywine Recyclers, Inc.  Brandywine operates a 12-acre recycling facility in Lebanon, PA where it collects and processes ferrous and non-ferrous scrap metals, as well as paper and plastics.  The Brandywine facility is located 35 miles east of CSR’s shredding plant in Harrisburg.

“The Brandywine acquisition is a great addition for CSR,” said Richard E. Abrams, CSR’s Chairman and CEO.  “It complements our existing business, gives us a strong presence in areas east of our current operations, and provides a platform for our scrap paper and plastics recycling businesses.  We have great respect for Brandywine’s owners, Frank Dixon and Richard Scott, and are pleased that Mr. Scott and his management team will remain with us following the acquisition.”

The Brandywine facility was founded in 1931.  Its current owners acquired the business in 1975, and have since expanded and built it into a diverse recycling company.  It also partners with local municipalities and charities to manage and expand their recycling programs and give back to the community.  “Those partnerships will definitely continue when CSR takes over operations,” Abrams said.

The acquisition is scheduled to close within the next 30 days.  The new facility will be known as CSR-Brandywine.

CSR, based in York, PA, is a leading regional ferrous and non-ferrous scrap processing and raw materials supplier.  It currently operates five recycling facilities in Central Pennsylvania, including three in York, one in Gettysburg, and a shredding plant in Harrisburg.  CSR also offers scrap logistics management services to manufacturing plants and other industrial customers throughout Pennsylvania and Maryland.  Together with its predecessor companies, CSR has been in the scrap metal recycling business for more than a century. 

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