Mayco sale unlikely to affect lead tags: traders
Aug 08, 2012 | 05:07 PM
| Daniel Fitzgerald
NEW YORK Secondary lead traders say Metalico Inc.s proposed sale of lead fabrication division Mayco Industries Inc. is unlikely to have any impact on lead scrap prices on the open market.
Metalico president and chief executive officer Carlos Agüero told investors during a quarterly earnings conference call Tuesday that the company "will explore strategic alternatives for its lead fabricating segment, including a possible sale" (amm.com, Aug. 7).
"(Lead fabricating) is improving in profitability and doing well," he said. "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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