Keywell Metals in final phase of $15 Million in Facilities Upgrades
Southlake, TX, January 16, 2015: Keywell Metals LLC announced today that it is nearing completion on four (4) separate facility upgrades totaling more than $15 Million that will cement its position as the most up-to-date and efficient ISO 9001 certified processing company in the Aerospace & Specialty Steel Recycling Industry.
According to Ross Gatlin, CEO of Prophet Equity, the private equity firm from Southlake, TX, that owns Keywell Metals, “We are making what we anticipate to be a long-term investment in facilities and equipment at a time in the economic cycle that we believe is certain to strengthen our production capabilities and further support our customer base. As a uniquely long-term, value creation oriented private equity firm, we have always viewed Keywell Metals as a long-term play that will really pay dividends as this economy moves beyond recovery and into growth mode.”
Keywell Metals is in the final stages of a significant asset replacement, upgrade and consolidation program at its Stainless Steel & Aerospace metals recycling facilities. Those locations, in West Mifflin, PA, Atlanta, GA, Falconer, NY and Matthews, NC will form the core of the Company’s metals processing activities. “Most Company assets are being replaced with new, more efficient models or moved, refurbished and upgraded for improved capacity,” Gatlin said.
The West Mifflin, PA and Atlanta, GA facilities are the cornerstones of the Company’s full-service specialty steel recycling business. On March 1, 2015 in West Mifflin, the Company will open a brand new 60,000 square foot building exclusively dedicated to the processing of stainless steel turnings. Anchored by a sophisticated, new crushing line and extensive on-site laboratory and sample furnace operations, this improvement is designed to handle significant delivery levels efficiently and with the appropriate environmental systems. The new stainless turnings building is complemented by Keywell Metals’ other processing equipment in West Mifflin, including a complete array of metal identification analyzers, two (2) large Harris Model TG4036 hydraulic balers, two (2) torch-cutting booths, mobile hydraulic shear, and numerous hydraulic cranes, loaders, lift-trucks and support equipment. In Atlanta, new metal identification equipment, video management systems and equipment upgrades have been completed and operational for months.
The Falconer, NY facility in southwestern New York is a 90,000 square foot facility that is 100% dedicated to the processing of Titanium and Titanium Alloys. In addition to being Aerospace customer approved, the Falconer operation is the cleanest, most well thought out Titanium processing facility anywhere. With extensive laboratory and sample melt operations, numerous specialized metal identification analyzers, sorters, balers, a titanium cobbling line, torching, shearing, blasting, washing & cleaning capabilities, this facility can produce and has capacity to spare.
The Matthews, NC facility just outside Charlotte is a 120,000 square foot facility that, when completed in the next few months and combined with the capabilities of the Falconer facility, will set the standard for processing High Temperature Alloy and Titanium scrap metal. The Matthews facility is equipped with new best-in-class crushing and cleaning lines, all new laboratory and sample melt equipment, a wide variety of metal identification analyzers, sorting, baling, torching, shearing, blasting & environmental capabilities that will ensure top quality products.
Mr. Gatlin added: “Our investments in Keywell Metals are designed to create a standard in the Aerospace & Specialty Steel recycling industry. With more customers and suppliers experiencing how easily and professionally they are able to work with Keywell Metals, they are excited to do so again and again.”
Headquartered outside Chicago, Illinois, Keywell Metals LLC is a leading supplier of recycled titanium, high-temperature alloys and stainless steel in North America. The Company is highly focused on achieving the fastest and most accurate service in the industry so that suppliers can settle with their scrap generators with confidence and consistency. Collection and processing facilities are located in Monroe, North Carolina, Matthews, North Carolina; Falconer, New York; West Mifflin, Pennsylvania; and Atlanta, Georgia. Since January 1, 2014, the Company has been owned by Prophet Equity, a private equity firm based in Southlake, Texas, with over $1.0 billion of assets under management. Prophet Equity’s principals have invested in and managed over $2 billion of value creation across entities with over $4 billion in revenue. Its control equity investments focus on strategically strong, lower and middle market businesses with significant value creation potential. For more information visit www.keywell.com or www.prophetequity.com.
Article featured in American Metal Market magazine January 16, 2015Back to Press Room