Molycop is very pleased to announce the completion of the acquisition of the assets of the JLW Services business. Molycop assumed control on the 1st of April, 2021 and will now rebrand the business as MOLYCOP360.
JLW Services provides integrated logistics, waste management and resource recovery solutions for businesses, government, councils, and the community. The company specialises in waste management and resource recovery services for problematic waste streams, including end-of-life tyres, mattresses, conveyor belts and IBCs. JLW Services was founded as a family business by Jamie and Leah Walmsley in Cootamundra, NSW in 2014 and currently employs 20 people. Jamie Walmsley has now joined Molycop in the role of General Manager of the MOLYCOP360 business.
In recent years, Molycop has become a key customer of JLW Services, consuming the scrap steel generated from mattress and tyre processing in its electric arc furnace (EAF) steelmaking process in Newcastle, NSW. Following the installation of polymer injection technology at its EAF facility, Molycop will also start substituting steelmaking carbon derived from fossil fuels with crumbed tyre rubber.
Michael Parker, President of Molycop Australia says: “The purchase of JLW Services will cement our position at the forefront of responsible and sustainable steelmaking and manufacturing”. Molycop is already one of the largest supporters of investment in renewable energy in Australia through its offtake agreements with both Bowman Solar farm and Sapphire Wind farm. Its steel products have over 90% recycled content and up to 75% lower carbon emissions than competitors’ products.
“Molycop has been manufacturing and supplying essential steel products to vital Australian industries, including mining and rail transport, in Newcastle for over 100 years and is very proud to be supporting regional employment through the acquisition of JLW Services”.
Jamie Walmsley says: that “I am very pleased that myself and all JLW employees will be joining a company that has been operating in Australia for over a century. I am passionate about the plans to substantially grow the business by offering specialised waste management and resource recovery services to Molycop and Comsteel’s customers.
The sale is expected to be finalised in April 2021.