Swiss refining group Metalor Technologies has agreed to acquire Gannon & Scott, the Rhode Island–based provider of refining and recovery services.
No financial details were provided.
Upon completion of the sale, which is subject to regulatory approval, Gannon & Scott will become a wholly owned subsidiary of Metalor. Its leadership team, workforce, and operations will remain unchanged, the company said.
Founded in 1919, Gannon & Scott has facilities in Cranston, R.I., and Phoenix and is known for its proprietary thermal reduction technology and waste minimization processes.
Nicolas Carrera, CEO of Metalor, said in a statement that the acquisition “represents a strategic step in strengthening Metalor Technologies’ vertical integration.”
Gannon & Scott CEO Joe Peixoto added that the transaction “opens the door to new capabilities, new markets, and new professional development opportunities for our employees.”
Metalor, which is based in Neuchâtel, Switzerland, was purchased by the Japanese industrial group Tanaka Kikinzoku Kogyo in 2016.
(Photo courtesy of Gannon & Scott)
- Subscribe to the JCK News Daily
- Subscribe to the JCK Special Report
- Follow JCK on Instagram: @jckmagazine
- Follow JCK on X: @jckmagazine
- Follow JCK on Facebook: @jckmagazine
