Anthony Soave prides himself in recognizing unique industries and businesses that present an opportunity for growth. For example, scrap metal recycling is a steadily growing industry in the United States, and the Soave Enterprises affiliate company Ferrous Processing & Trading (FPT) benefits from that growth. Even as the amount of recycled scrap metal continues to rise in the United States, the service providers remain significantly fragmented throughout different regions.
Taking Advantage of Market Conditions
Currently, some scrap metal processors like FPT are growing and expanding, while others are consolidating. Mergers and acquisitions are expected to continue as scrap metal processors continue to seek greater profits and increase their resources and capabilities. Fortunately, the improving economy within the U.S. and the growing demand for scrap metal throughout the world will drive the scrap metal market in the years to come and will help maximize the strength of the U.S. scrap metal industry.
Thanks to the solid business foundation fueled in part by Soave Enterprises, FPT has plans for continued growth through the coming years. The company benefits from the clear direction and unified vision provided by the leadership team and the resources and support provided by Soave Enterprises. In fact, Ferrous Processing & Trading is currently the fifth largest scrap metal recycling company in the U.S., and is a strong example for others in the industry.
Services in Demand
Ferrous Processing & Trading is a key supplier to the metals industry of North America. They are also a major scrap metals management company for the U.S. auto industry. From every stage of the metal recycling process from the assembly line to the used parts pile then through the scrap processing yard and into the furnace, FPT has the right answers for handling and marketing metal.
Soave Enterprises collaborates with expert professionals at Ferrous Processing & Trading to meet the needs of industrial and private clients throughout the country. The FPT team develops environmentally-responsible waste management and steel recycling programs to that are cost-efficient. FPT provides a comprehensive array of scrap recovery processes and scrap-derived raw materials for the metal industries including ferrous and non-ferrous recycling programs.
The demographic of the U.S. scrap metal recycling industry is still very fragmented. Overall, there are over 500 independent metal recycling companies with over 1,000 processing facilities spread across the country and recent reports show that the top twenty scrap metal recycling companies in the country control about thirty-five percent of the market. These companies range from large corporations to family-owned operations. Many companies, such as Soave Enterprises operate multiple facilities throughout a region. FPT currently operates facilities in Michigan, Ohio, Tennessee, Florida, and Ontario, Canada.
About Soave Enterprises
Soave Enterprises is a diversified management and investment company founded by Detroit businessman Anthony Soave. Soave Enterprises provides strategic planning, financial and other management resources to its affiliated business ventures in the real estate, automotive retailing, beer distribution, scrap metal, industrial services and transportation industries, among others. For more information on Tony Soave and Soave Enterprises, please visit http://www.soave.com.
3400 E Lafayette
Detroit, MI 48207