FPT forges auto connection

Recycling Today, March, 2005

Soave Enterprises, the Detroit-based holding company that is the parent of Ferrous Processing and Trading (FPT), has teamed with auto parts and dismantling veteran Bill Wild to form Parts Galore, a self-service, used auto parts retail outlet.

With an initial investment of $5 million, Parts Galore will open its first store in Detroit this spring. Soave Enterprises plans on opening additional Parts Galore outlets in Michigan and Ohio, with sites in Cleveland and Toledo already being scouted.

Parts Galore customers will be able to remove and purchase parts from an inventory of used automobiles at the 18-acre Parts Galore initial location on 8 Mile Rd. in Detroit. A company news release states that an inventory of 2,500 cars and trucks is anticipated for the site.

With an expected monthly turnover of more than 1,000 vehicles, the operations should also yield scrap automotive hulks for the nearby automobile shredders operated by Parts Galore companion company FPT.

The scrap recycling subsidiary of Soave Enterprises operates several auto shredders in and around Detroit as well as in other Great Lakes markets in which Parts Galore is planning to operate.