SMS and Milestone Equipment acquire GE Capital Intermodal Trailer Fleet

Scrap Metal Services LLC (SMS) and Milestone Equipment Corporation (MEC)) today announced the acquisition of 7,300 intermodal dry van trailers.

These heavy duty dry van trailers are operated under leases throughout North America in rail intermodal service. Financial terms of the transaction were not disclosed. SMS and MEC have created a new JV Entity call Scrapstone Intermodal Services, LLC for this transaction as well all future intermodal opportunities. Robert Thull, Milestone’s President and founder stated: “Milestone is now the largest domestic intermodal container and intermodal trailer equipment lessor. We are committed to continued rapid growth and investments in intermodal equipment to provide flexible operating leases to our customers.”

Jeffry K. Gertler, Chief Executive Officer of Scrap Metal Services, stated, “This acquisition allows Scrap Metal Services to expand its role in the intermodal marketplace, a market segment that we believe will experience considerable growth over the next several years.”

About Milestone Equipment Corporation

Milestone Equipment Corporation is a full service transportation equipment leasing and asset management company that began operations in 1995. Milestone operates a fleet of 23,000 intermodal assets including; domestic containers, chassis and intermodal trailers.

Management services include; lease origination and administration, operating and maintaining equipment in daily rental service, remarketing and managing equipment portfolio lease terminations for third parties.

Milestone also operates a dry van highway trailer full service rental and leasing business with over 13,000 highway trailers under the name Personal Attention Leasing, Inc.

About Scrap Metal Services LLC

Scrap Metal Services, LLC specializes in scrap processing, scrap management, brokerage and trading, and steel mill services to both EAF and Integrated Steel Mills. SMS is a leading provider of outsourced services and scrap processing to industrial manufactures, steel mills, mini mills, foundries, transportation and logistics companies, and scrap companies.

Scrap Metal Services operates scrap processing facilities, which include commercial facilities in Illinois, Indiana, and Alabama as well as Mill Services facilities in Pennsylvania, and Indiana.

Contacts:

Robert Thull President Milestone Equipment Corporation (415) 435-1490 rob@milecorp.com

Richard A. Gertler Chief Operating Officer Scrap Metal Services LLC (708) 730-1400 RGertler@printedbold.com/sms_2021.com

Scrap Metal Services, LLC (SMS) is pleased to announce that that Rick West and Shannon Jordan have joined its SMS Mill Services, LLC subsidiary.

Rick West has been hired as Vice President, Business Development for SMS Mill Services, LLC. Mr. West has over 30 years of experience in the steel, scrap and mill service industries. During his career, Mr. West has held numerous operating management positions with Tube City IMS, PSC Metals and the Edw. C Levy Co. Mr. West is an alumnus of both Purdue University and Drexel University; he holds a Bachelor of Science in Industrial Management and has significant post graduate education in both Financial Controls and Service Management.

Shannon Jordan has been hired as an Operations Manager. Mr. Jordan has over 14 years’ experience in steel mill support services and aggregate processing. Prior to joining SMS Mill Services, Mr. Jordan was the plant manager for the Carb-Rite Company, where he brought new and innovative solutions to the carbon processing and packaging plant. Mr. Jordan had previously held various management positions with Edw. C Levy Co., including operations manager of their LTV Steel operation (now ArcelorMittal Indiana Harbor West), and their ArcelorMittal Burns Harbor slag processing operation. Mr. Jordan has studied Education at Purdue University and trained in Lean Manufacturing.

“We are excited to have Rick and Shannon join our management team, with their tremendous depth of knowledge and extensive experience in scrap, slag processing and other steel mill support services. We look forward to their individual contributions, as we continue to expand our business,” said Larry Coe, President, SMS Mill Services, LLC.

About Scrap Metal Services, LLC and SMS Mill Services, LLC.

Scrap Metal Services, LLC (SMS), headquartered in Burnham, IL, operates full-service scrap processing, steel mill service and intermodal/railcar decommissioning and dismantling facilities in several states. SMS also provides scrap management, consulting and purchasing services to industrial scrap generators and demolition contractors, on a local and national basis. SMS Mill Services, LLC is a top tier provider of scrap and slag management and mill support services for steel producers in North America.

On behalf of Inc. magazine, I am delighted to inform you that Scrap Metal Services has earned the position of 984 on the 2011 Inc. 5000, Inc’s annual ranking of the fastest-growing private companies in America.

For more than 30 years, Inc’s list has served as evidence of die significant accomplishments of enterprises such as yours. And, more than ever, this year’s list is a testament to the creativity, resilience, and tenacity of America’s top entrepreneurs.

As an Inc. 5000 honoree, Scrap Metal Services shares a prestigious pedigree with such notable alumni as Intuit, Zappos, Under Armour, Microsoft, Jamba Juice, Timberland, Clif Bar, Patagonia, Oracle, Zipcar, and scores of other powerhouses.

Congratulations to you and your team. Inc. recognizes the creativity, dedication, and hard work that have gone into building Scrap Metal Services into what it is today and wishes you many more years of success.