Busche, MetalX Announce Partnership

Posted: Updated:
MetalX is headquartered in the DeKalb County town of Waterloo. MetalX is headquartered in the DeKalb County town of Waterloo.
ALBION and WATERLOO -

Busche Performance Group Inc. in Albion has finalized a deal with Waterloo-based scrap metal recycling company MetalX LLC. The agreement says MetalX will be responsible for managing the sourcing of all aluminum raw materials that will be used in BPG's foundry operations.

BPG designs and manufactures aluminum castings and other components used in automotive chassis and engines, as well as markets such as agriculture, construction and refrigeration. Per the terms of the agreement, MetalX will manage the sourcing, procurement, delivery, and administration association with the aluminum scrap and refined aluminum products that will be consumed and generated by BPG's aluminum foundries.

The companies say BPG foundries will continue to maintain direct responsibility for payment to suppliers, establishment of material specifications and governing terms and conditions.

"This agreement will allow the foundry division to be better connected to the aluminum markets and gain significant benefits from the MetalX team’s expertise with buying and selling of aluminum raw materials in the metals marketplace," said Daniel Dressler, vice president of procurement and business development for BPG. "This will also allow BPG foundries to focus on growing their foundry operations and “partner” with a highly-regarded metals recycling and trading company that already has demonstrated performance with managing scrap for all of our US machining facilities."

MetalX says it will be sourcing approximately 70 million pounds of alloy aluminum annually and seeking to develop additional suppliers, such as scrap processors, secondary producers and industrial generators.

  • Perspectives

    • Tax Planning: Now’s the Time to Tackle It!

      Year-end is still months away, but smart investors have already begun their tax planning. Spending time analyzing your capital-gain situation could benefit you come next April 15th, no matter what investment vehicles you use - individual securities, mutual funds, exchange traded funds, or others. Here's how…

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Wesemann Hall at the Valparaiso University Law School (photo courtesy Tony V. Martin/The Times of Northwest Indiana)

      Valpo School of Law Transfer Denied

      A proposal to transfer Valparaiso University's law school to another university has been shot down. The Tennessee Higher Education Commission has denied the transfer to Middle Tennessee State University, which would have led to the creation of a College of Law at the school. 

    • Harris Corp. employs nearly 500 at its Fort Wayne facility.

      Planned Defense Mega-Merger Involves Fort Wayne Operation

      A defense industry contractor with a presence in Fort Wayne has announced a merger agreement. Florida-based Harris Corp. (NYSE: HRS) and L3 Technologies Inc. (NYSE: LLL) in New York say the combination will create the sixth-largest defense company in the country. In early-2015, Harris completed the $4.75 billion acquisition of Exelis, a long-time manufacturer of military radio technology in Fort Wayne. Shortly after the acquisition, Harris consolidated...

    • Henkel Corporation Acquires Muncie-Based Company

      Muncie-based Magna-Tech Manufacturing has been acquired by Henkel Corporation. Henkel is the U.S. subsidiary of Henkel AG &Co. KGaA in Germany.
    • Daniels Envisions Purdue, Region as 'Cooler Place'

      Purdue University President Mitch Daniels says a more than $1 billion live, work, play development on the West Lafayette campus will be a magnet for attracting and keeping top talent in the region. The Discovery Park District is part of a 30-year vision to transform the west side of the Purdue campus and create a "preeminent environment" for educational, economic, cultural and community activities in the region.

    • More Indiana Sears, Kmart Stores to be Cut

      Multiple Sears and Kmart stores throughout Indiana will be victims of the latest round of closures prompted by the parent company's bankruptcy filing. Illinois-based Sears Holdings Corp. (Nasdaq: SHLD) says a total of 142 locations will be shuttered as part of efforts to return to longterm profitability and competitiveness. Liquidation sales are slated to begin soon and the stores are expected to close by the end of the year. In its most recent earnings report, the company announced...