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Canada: Competition Bureau reaches interim agreement with AIM while it investigates acquisition of TMR

By  |  December 18, 2019

The Competition Bureau has reached an interim agreement with American Iron & Metal Company Inc. (AIM) to preserve specific assets while it pursues an investigation into AIM’s acquisition of Total Metal Recovery (TMR) Inc.

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    The Bureau is concerned that the transaction may result in a substantial lessening or prevention of competition in the purchase, collection and processing of scrap metal, and/or the supply of processed scrap metal in Quebec. AIM and TMR both operate neighbouring scrap metal facilities in the Montreal area.

    Under the terms of the agreement registered with the Competition Tribunal, AIM is required to preserve the assets it will acquire from TMR for a period of 60 days. AIM must maintain the viability and marketability of these assets throughout this period.

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