Free Submission Public Relations &
Deutsch English



Print article Print article
Copyright © Thomson Reuters 2012. All rights reserved.
2012-12-17 18:27:06 -

CRANFORD,  NJ, December 17, 2012 - Metalico, Inc.  (NYSE MKT: MEA) has increased
its  scrap metal  recycling presence  in northeastern  Ohio and Western New York
with  a new venture  in the Cleveland  market and an  acquisition in the Greater
Rochester area.

In  Cleveland, the Company has set up operations in a joint venture at 3018 East
55th Street,  the  site  of  a  previous  scrap  yard  in the city's traditional
industrial   sector.    Managed   by  industry  veteran  Joseph  Immormino,  the
strategically  located  facility,  operating  as  "Metalico  JBI  Cleveland," is
expected to develop a 
brisk scrap peddler flow and to service new accounts while supporting Metalico's existing yards in Akron and Youngstown. The Company's Metalico Rochester, Inc. subsidiary has purchased the assets of Bergen Auto Recycling, LLC, including its junk car inventory and real property located at 7652 Clinton Street Road in suburban Bergen, New York.  Metalico plans to significantly expand Bergen Auto's salvage car buying capabilities and continue its "pick-and-pull" auto parts business while taking advantage of additional access to scrap metal to feed its shredding facility in Buffalo, New York. Terms and consideration for the two transactions were not disclosed. "These additions to our network should have an immediate benefit for us," said Carlos E. Agüero, Metalico's President and Chief Executive Officer.  "Our full- service scrap yard platforms are already well established in both of these geographic regions and have ample processing capacity to handle additional flow.  Our expansion into these new locations is consistent with Metalico's growth strategy of penetrating geographically contiguous markets and benefiting from intercompany and operating synergies that are available through consolidation." Metalico, Inc. is a holding company with operations in three principal business segments: Ferrous and Non-Ferrous Scrap Metal Recycling, PGM and Minor Metals Recycling, and Fabrication of Lead-Based Products.  The Company operates 29 recycling facilities in New York, Pennsylvania, Ohio, West Virginia, New Jersey, Texas, and Mississippi and four lead fabricating plants in Alabama, Illinois, and California.  Metalico's common stock is traded on the NYSE MKT under the symbol MEA. Contact: Metalico, Inc. Carlos E. Agüero Michael J. Drury 186 North Avenue East Cranford, NJ 07016 (908) 497-9610 Fax:  (908) 497-1097 #               #               # This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metalico, Inc. via Thomson Reuters ONE [HUG#1665661]

Press Information:

Contact Person:

Disclaimer: © 2014 Thomson Reuters. The press releases or report contained herein is protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Thomson Reuters's, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.
Latest News
Read the Latest News


Terms & Conditions | Privacy | About us | Contact | BidVertiser