| Business Summary | | Recycling
Industries,
Inc.
was
a
full-service
metals
recycler
primarily
engaged
in
the
collection
and
processing
of
various
ferrous
and
non-ferrous
metals
for
resale
to
domestic
and
foreign
steel
producers
and
other
metals
producers
and
processors
through
its
wholly
owned
subsidiaries.
The
Company
operated
metals
recycling
facilities
located
in
Arkansas,
Georgia,
Illinois,
Iowa,
Missouri,
Nevada,
North
Carolina,
South
Carolina,
Oklahoma,
Texas,
Virginia
and
Wisconsin.
The
Company's
operations
consisted
of
purchasing
and
processing
unprepared
scrap
and
selling
processed
scrap.
Scrap
is
categorized
as
either:
ferrous,
containing
iron
and
consisting
primarily
of
steel;
or
non-ferrous,
which
includes
materials
such
as
copper,
aluminum
and
brass.
Subsequent
to
the
dismissal
of
a
bankruptcy
case
filed
February
26,
1999,
the
Company
was
forced
to
cease
all
operations
and
terminate
its
450
employees. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Recycling
Industries,
Inc.
is
a
full-service
metals
recycler
engaged
in
the
collection
and
processing
of
ferrous
and
nonferrous
metals
for
resale
to
domestic
and
foreign
steel
producers
and
other
metals
processors.
For
the
three
months
ended
12/98,
revenues
rose
44%
to
$45
million.
Net
loss
before
extraordinary
item
applicable
to
Com.
totalled
$10.9
million,
vs
income
of
$104
thousand.
Results
reflect
acquisitions,
offset
by
declines
in
demand
and
sale
prices
of
ferrous
scrap. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1998 Pay | |
| Thomas Wiens, 46 Chairman,
CEO, | $2.2M | Luke Botica, 48 Vice
Chairman | 250K | Brian Klemsz, 39 Sr.
VP, CFO,Treasurer, | -- | Harold Rouster, 49 Sr.
VP and COO | -- | John McKibben, 58 Sr.
VP-Admin. and Sec. | 140K | Dollar amounts are as of 30-Sep-1998 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|