Metalico mulls sale of lead segment
Aug 07, 2012 | 02:33 PM
| 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."....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.