• Facebook
  • Twitter
  • RSS
39°
Wednesday April 23, 2014
View complete forecast
News-Sentinel.com Your Town. Your Voice.
This Weeks Deal
Chop Shop Full Service Hair Repair
 Mini Facial and 30 minute Relaxation Massage 
 Mani Pedi combo 
This Week Only
$25
55% off
Local Business Search
Stock Summary
Dow16514.370
Nasdaq4161.460
S&P 5001879.557.66
AEP51.670
Comcast50.830
GE26.580
ITT Exelis18.790
LNC48.500
Navistar35.060
Raytheon99.500
SDI18.190
Verizon47.920

Ex-OmniSource owners to open Waterloo recyling business, creating 200 jobs

Wednesday, November 14, 2012 - 11:32 am

The Rifkin family is back in the metal business. The family, which sold its OmniSource metal recycling business to Steel Dynamics Inc., is opening MetalX, a new metals recycling company, in Waterloo this month.

The company's flagship facility and corporate headquarters are already open for wholesale/industrial business and will open to the general public on Dec. 1, according to a news release. About 75 people will be employed by next spring and more than 200 will work there in three years.

Located on a 70-acre site, the facility will process ferrous and nonferrous scrap metals for recycling into new metal products in what the release calls a state-of-the-art facility will the latest technologies.

The family sold OmniSource in October 2007 in a $1.1 billion purchase agreement.