Cleveland-Cliffs to acquire Ferrous Processing and Trading for $775M

Cleveland-Cliffs Inc. has agreed to acquire Ferrous Processing and Trading Company (FPT), a scrap processor and distributor, for an enterprise value of approximately $775 million. FPT processes about three million tons of scrap per year.

“Cleveland-Cliffs is entering the scrap business as a major player through the acquisition of a large scrap company.”clevelandcliffs.com

• 1 source
• clevelandcliffs.comCleveland-Cliffs Enters the Scrap Business and ...Oct 11, 2021

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