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Scrap metal deal

CANNINGTON-based specialist foundry scrap metal supplier G.W. Brown Pty Ltd has been bought by manufacturer and supplier Bradken Ltd. Bradken managing director Brian Hodges said the $6.1 million acquisition would provide a major opportunity to leverage the skills of Browns and Bradken in obtaining major raw material supplies, including Bradken manufactured worn part returns from mine sites. “Browns supplies 12,000 tonnes per annum of mild steel scrap to foundries in WA, 80 per cent of which is purchased by Bradken’s Henderson and Welshpool facilities,” he said. The new scrap procurement strategy is expected to contribute $2 million EBITDA in Brad-ken’s first full year. The acquisition is being funded by a combination of cash and shares, and is expected to be completed before the end of the month.

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