Metalico Sells Lead Division
CRANFORD, NJ -- 12/2/14 -- Metalico, Inc. (NYSE MKT: MEA) has closed on the sale of its Lead Fabricating segment for an aggregate all-cash purchase price of $31.3 million.
The transaction includes all of Metalico's operating Lead businesses in Alabama, Illinois and California, together with the Company's owned real estate and leasehold interests in those states used by its Lead facilities. The purchase price assumes a specified level of working capital was transferred to the buyers at closing and may be adjusted within thirty days of closing after confirmation of the amount of working capital conveyed. The parties executed definitive documentation and closed simultaneously.
Metalico, Inc. is a Ferrous as well as a Non-Ferrous scrap metal processor operating in New York, New Jersey, Ohio, Pennsylvania, West Virginia, Texas, and also in Mississippi.
We hold a high standard for customer service and aim to meet every one of our customers' needs.
We are a publicly traded company under the symbol MEA which is listed on the American Stock Exchange.
Our corporate headquarters is located in Cranford, New Jersey.