- Brady, an England-based provider of software solutions for global commodity trading, has paid $2 million to acquire the assets of the ScrapRunner system by Jacksonville, FL-based Enaptive Inc.
- ScrapRunner — which has been operating since 2003 — is a "leading dispatch solution" designed for the recycling and scrap markets, which provides knowledge regarding the markets and growth opportunities, according to Brady CEO Gavin Lavelle. The system has clients in North America and Europe.
- Brady believes that the sales force and commercial infrastructure of its company will be able to grow ScrapRunner's operations and clientele.
"The U.S. scrap market is worth $100 billion in turnover, and 50 percent of this is already transacted using Brady software, with seven of the top 10 recycling companies using Brady," said Lavelle. He believes that the acquisition will enhance the company's earnings throughout the rest of this year.
The Journal of Commerce reported that scrap metal exports from the U.S. dropped 4.7% by volume in the first half of 2015, compared to the first half of 2014. And exports are expected to keep falling if the U.S. dollar remains strong. However, if the dollar's value declines, exports could rebound as much as 8.5% in 2016.