PITTSBURGH–(Business Wire)–American Zinc Recycling Corp. (“AZR”) today announced the entry into a $100 million committed equity facility with its major investors. AZR also announced that it has entered into an amended credit agreement between the Company and a group of banks led by the Bank of Montreal.
“We are pleased by the confidence shown in our Company by our investors and our lenders,” commented Rodrigo Daud, CEO of American Zinc Recycling Corp. “This strong financial backing will further strengthen our position as the largest recycler of electric arc furnace dust in North America.”
In addition, AZR confirmed that the repairs to the zinc metal refinery in Rutherford County, NC remain on schedule and are anticipated to be fully funded through insurance proceeds and the equity facility. The restart is expected to occur in the first quarter of 2020.
About American Zinc Recycling
American Zinc Recycling Corp. is a leading provider of environmental services to the U.S. steel industry, and is owned by American Zinc Recycling LLC. American Zinc Recycling LLC, headquartered in Pittsburgh, Pa., through its subsidiaries employs approximately 750 people and has six facilities throughout the U.S. Visit azr.com for more information.