Greenwave Technology Solutions, Inc. Strategically Positions for Growth in Rapidly Consolidating U.S. Scrap Metal Industry
Greenwave Technology Solutions (Nasdaq: GWAV), a metal recycling leader operating 13 facilities across Virginia, North Carolina, and Ohio, has announced strategic developments in the consolidating scrap metal market. The company has achieved $1.7 million in annual cost savings through real estate acquisitions of seven core facilities.
The company reported revenues from Sims Metal of $20.7 million in 2023 and $18.0 million in 2022. With 167 employees, Greenwave supplies ferrous and non-ferrous metal to major steel mills and industrial conglomerates. The announcement highlights recent industry acquisitions, including Sims Metal's $220 million purchase of Baltimore Scrap Corp., demonstrating significant consolidation in the sector.
Greenwave Technology Solutions (Nasdaq: GWAV), leader nel riciclaggio dei metalli con 13 impianti in Virginia, Carolina del Nord e Ohio, ha annunciato sviluppi strategici nel mercato del rottame metallico in fase di consolidamento. L'azienda ha realizzato 1,7 milioni di dollari di risparmi annuali attraverso acquisizioni immobiliari di sette impianti chiave.
L'azienda ha riportato ricavi da Sims Metal di 20,7 milioni di dollari nel 2023 e 18,0 milioni di dollari nel 2022. Con 167 dipendenti, Greenwave fornisce metalli ferrosi e non ferrosi a grandi acciaierie e conglomerati industriali. L'annuncio evidenzia recenti acquisizioni nel settore, inclusa l'acquisizione da 220 milioni di dollari di Baltimore Scrap Corp. da parte di Sims Metal, dimostrando un significativo consolidamento nel settore.
Greenwave Technology Solutions (Nasdaq: GWAV), líder en el reciclaje de metales con 13 instalaciones en Virginia, Carolina del Norte y Ohio, ha anunciado desarrollos estratégicos en el mercado de chatarra metálica en consolidación. La compañía ha logrado 1.7 millones de dólares en ahorros anuales mediante adquisiciones inmobiliarias de siete instalaciones clave.
La compañía reportó ingresos de Sims Metal de 20.7 millones de dólares en 2023 y 18.0 millones de dólares en 2022. Con 167 empleados, Greenwave proporciona metales ferrosos y no ferrosos a grandes molinos de acero y conglomerados industriales. El anuncio destaca recientes adquisiciones en la industria, incluida la compra de Baltimore Scrap Corp. por Sims Metal por 220 millones de dólares, demostrando un significativo consolidado en el sector.
그린웨이브 테크놀로지 솔루션스(Greenwave Technology Solutions, Nasdaq: GWAV)는 버지니아, 노스캐롤라이나, 오하이오에 13개의 시설을 운영하는 금속 재활용의 선두주자로, 통합 중인 고철 시장에서 전략적 개발을 발표했습니다. 이 회사는 연간 170만 달러의 비용 절감을 통한 7개의 핵심 시설의 부동산 인수를 달성했습니다.
회사는 2023년에 2070만 달러의 수익을, 2022년에는 1800만 달러의 수익을 Sims Metal로부터 보고했습니다. 167명의 직원을 보유한 그린웨이브는 주요 제철소와 산업 복합체에 철강 및 비철금속을 공급합니다. 이 발표는 Sims Metal이 2억 2000만 달러에 볼티모어 스크랩 코프(Baltimore Scrap Corp.)를 인수하는 등 최근 산업 인수를 강조하며, 산업 부문의 중요한 통합을 보여줍니다.
Greenwave Technology Solutions (Nasdaq: GWAV), leader du recyclage des métaux avec 13 installations en Virginie, Caroline du Nord et Ohio, a annoncé des développements stratégiques sur le marché des métaux usagés en consolidation. L'entreprise a réalisé 1,7 million de dollars d'économies annuelles grâce à des acquisitions immobilières de sept installations clés.
L'entreprise a rapporté des revenus de Sims Metal de 20,7 millions de dollars en 2023 et 18,0 millions de dollars en 2022. Avec 167 employés, Greenwave fournit des métaux ferreux et non ferreux à de grandes aciéries et à des conglomérats industriels. L'annonce met en lumière des acquisitions récentes dans le secteur, y compris l'achat de Baltimore Scrap Corp. par Sims Metal pour 220 millions de dollars, illustrant une consolidation significative dans le secteur.
Greenwave Technology Solutions (Nasdaq: GWAV), ein führendes Unternehmen im Bereich Metallrecycling mit 13 Anlagen in Virginia, North Carolina und Ohio, hat strategische Entwicklungen im Konsolidierungsmarkt für Schrottmetall angekündigt. Das Unternehmen hat 1,7 Millionen Dollar an jährlichen Kosteneinsparungen durch Immobilienakquisitionen von sieben Kernanlagen erzielt.
Das Unternehmen berichtete 2023 von Einnahmen in Höhe von 20,7 Millionen Dollar von Sims Metal und 18,0 Millionen Dollar im Jahr 2022. Mit 167 Mitarbeitern liefert Greenwave Eisen- und Nichteisenmetalle an große Stahlwerke und Industrieunternehmen. Die Ankündigung hebt jüngste Unternehmensakquisitionen hervor, darunter den Kauf von Baltimore Scrap Corp. durch Sims Metal für 220 Millionen Dollar, was eine signifikante Konsolidierung im Sektor zeigt.
- Achieved $1.7 million annual cost reduction through facility acquisitions
- Generated $20.7 million revenue from Sims Metal in 2023, up from $18.0 million in 2022
- Strategic positioning in consolidating market with established relationships with industry leaders
- None.
Insights
The strategic real estate acquisition reducing annual rent by
Recent industry transactions, particularly Sims Metal's
The scrap metal industry is experiencing a transformative phase driven by increased domestic steel production capacity and supply chain reorganization. The projected addition of 16 million tons of annual steel capacity indicates robust long-term demand for recycled metals. GWAV's strategic positioning in Virginia, North Carolina and Ohio places it in prime territory to capitalize on the domestic manufacturing renaissance.
The wave of acquisitions by major players like Cleveland-Cliffs (
Key Highlights
$1.7 Million $1.7 million , enhancing cashflow and positioning Greenwave for future growth and potential high-value strategic transactions.- Twenty Year Relationship with Sims Metal: Greenwave generated
$20.7 $18.0 million - Significant M&A Activity in Scrap Metal: Steelmakers are leading a wave of consolidation, securing supply of raw materials to feed a projected increase of 16 million tons of annual capacity in the coming years.(1)
Peer Benchmarking Supports Valuation Upside
Recent transactions indicate substantial valuation potential for Greenwave:
- Sims Metal acquired Baltimore Scrap Corp. for
$220 million - Nucor acquired the assets of Garden Street Iron & Metal, including one feeder and one shredder yard, in 2023. The terms of the acquisition were not disclosed.(3)
- Cleveland-Cliffs acquired Ferrous Processing and Trading Co. for
$775 million U.S. processor, buyer, seller, and recycler of scrap metals.(4) - Steel Dynamics completed the acquisition of Roca Acero for
$90 million Mexico , with an annual processing capacity of approximately 850,000 gross tons.(5)
Unlocking Shareholder Value
Greenwave's strong operational footprint and relationships with industry leaders – Nucor Corporation, Sims Metal Management, and Cleveland-Cliffs, Inc. – position the Company to capitalize on robust domestic demand and favorable policy shifts. As regional steel supply chains pivot toward sustainable and domestically sourced metals, Greenwave is optimally positioned for rapid growth and strategic transactions to unlock shareholder value.
- https://ionanalytics.com/insights/mergermarket/trash-to-treasure/
- Sims Limited / 2024 Annual Report / Note 24 - Business Acquisitions and Disposals / (a) Baltimore Scrap Corporation / Page 124 (Link)
- https://www.recyclingtoday.com/news/river-metals-recycling-acquires-garden-street-iron-metal-ohio-yards/
- https://www.clevelandcliffs.com/news/news-releases/detail/533/cleveland-cliffs-enters-the-scrap-business-and-announces
- https://www.bglco.com/insights/scrap-metal-ma-market-update/
About Greenwave – One of the Mid Atlantic's Leading Metal Recyclers
As an operator of 13 metal recycling facilities, Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) supplies leading steel mills and industrial conglomerates with ferrous and non-ferrous metal. With steel being one of the most recycled materials worldwide, Greenwave supplies the raw metal utilized in critical infrastructure projects and
For detailed financials and updates, visit www.GWAV.com.
Forward-looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements about its revenue growth, opening of additional locations, margin expansion and cashflow projections. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although the Company believes that its plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, the Company can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Company's control), assumptions and other factors that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for the Company's common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the SEC. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
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SOURCE Greenwave Technology Solutions
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