Metalico Completes the Acquisition of Mayco, a Fabricator of Lead-based Products
CRANFORD, NJ, October 1, 2004 – Metalico, Inc. has completed the previously announced purchase of the 50% interest in Mayco Industries, L.L.C. that it did not already own. For the nine months ended September 30, 2004, the combination of Mayco and Metalico, as if the transaction had closed on the first of the year, generated revenues of approximately $110,000,000.
The Mayco acquisition makes Metalico the largest fabricator of non-battery leadbased products in the U.S., selling into the construction, recreation, defense and nuclear protection industries, among others. Nationwide, Metalico has six lead-based fabricating facilities, including Mayco’s production and warehousing facility in Birmingham, Alabama and its production facility in Granite City, Illinois.
About Metalico, Inc.
Metalico, Inc. is a holding company with operations in two business segments: ferrous and non-ferrous scrap metal recycling, and fabricating of lead-based products. The Company maintains five recycling facilities in addition to its lead fabrication plants in a total of six states. Metalico also operates a secondary aluminum smelting facility in Lackawanna, New York, where it expects its second furnace, a state-of-the-art aluminumrecovery rotary furnace, to be operational within the next month. The new equipment significantly expands the Company’s aluminum production capability. Metalico’s core strategy emphasizes compatible acquisitions in its markets and business segments.
This announcement may contain, in addition to historical information, certain forward-looking statements that involve risks and uncertainties. Such statements reflect management’s current views and are based on certain assumptions. Actual results could differ materially from the assumptions currently anticipated.