Metalico mulls sale of lead segment
Aug 07, 2012 | 02:33 PM
| Lisa Gordon
Tags
scrap,
lead,
recycler,
Metalico,
Carlos Agueero,
Lisa Gordon
PITTSBURGH — Metalico Inc. is considering selling off its lead fabricating segment to focus on its ferrous and nonferrous scrap recycling division.
Scrap prices are expected to remain relatively stable after a recent run-up, according to the Cranford, N.J.-based company, which typically generates around 68 percent of its revenue and 95 percent of its operating earnings from recycling.
"(Lead fabricating) is improving in profitability and doing well. The board has made a determination to focus our resources on the ferrous and nonferrous aspect of the business," president and chief executive officer Carlos E. Agüero told investors during a quarterly earnings conference call. "While there is no transaction pending at this time, we feel our lead division could benefit from an examination of all options."....
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