CIT Northbridge provided a $25 million secured credit facility to Huron Valley Steel, a recycling processor of shredded nonferrous mixed metals.
“Sustainable resource management and conservation is becoming increasingly crucial,” Dennis Reno, president of Huron Valley, said. “This financing will enable us to further scale our business and process increasing volumes of material from automobile shredder operators, continuing to recover high-grade aluminum and other nonferrous metals that are integral to a circular economy.”
Neal Legan, business leader at CIT Northbridge, added, “Huron Valley Steel Corporation has built a reputation as a leading nonferrous metals processor utilizing proprietary and innovative technologies. We are excited to provide this financing and continue to support HVSC’s commitment to increasing domestic metal recovery and preserving natural resources.”
