Metalico intends to be the recognized leader for performance and innovation in the metals recycling industry. In addition, the Company strives to be viewed as the best in the eyes of our business constituents, employees, shareholders, and the community at large.
Metalico aims to become the preeminent, vertically integrated, regionally focused metals recycler. We work in partnership with our suppliers and consumers to be the recognized leader in all the markets where we operate.
Metalico is a leading full-service, broadly diversified scrap metal recycler, principally operating in the Northeastern United States. Our scrap operations source, buy, process, and sell four distinct groups of commodity metals for use in the manufacture of new products:
- We recycle scrap steel and iron, which is sold primarily to domestic mills and foundries.
- We recycle non-ferrous metals, principally aluminum, copper, lead, and nickel-based steel and high temperature alloys. These products are sold to domestic manufacturers and, to a lesser extent, to the export markets.
- We buy catalytic converters and recover platinum, palladium, and rhodium, known as Platinum Group Metals (PGM's). These precious metals are typically refined and reused by industry in emissions control devices.
- Metalico also recycles minor metals including molybdenum, tungsten, and tantalum, which are used in specialty steels, electronics, and high-technology-based products.
Our facility in Syracuse, New York, converts aluminum scrap into deoxidizing cones, an additive used in the steel-making industry.
Metalico today employs 600 people in 27 operating locations across 7 states. Headquartered in Cranford, New Jersey, Metalico trades under the stock symbol MEA on the NYSE Amex.
Metalico's strategy is to grow by acquisition, and more recently, through emphasis on organically developed internal initiatives.
Metalico executes this strategy by carefully locating platform businesses to acquire that we can leverage to increase market penetration by adding tuck-in acquisitions to enhance our competitive advantage. We then look to exploit synergies in transportation, cross-selling among operations and working to realize operating efficiencies.
We seek internal growth and expansion opportunities in contiguous geographic markets in order to maximize market share and profitability.
The Company looks to mitigate commodity price risk by diversifying across several commodity metals and through rapid turnover of its inventories. Metalico seeks to have a dominant position in the markets in which it operates, and to be the standard-bearer for customer service and quality assurance in the value-added products that we fabricate.
Recycling of Metals:
Metalico operates both ferrous and non-ferrous scrap metal recycling facilities in New York, Pennsylvania and Ohio, serving both U.S. and Canadian markets. All forms of metal scrap are purchased from manufacturers, small scrap dealers, demolition contractors, and peddlers.
The scrap is sorted and prepared for sale to mills, furnaces and foundries. Refractory metals, principally molybdenum, tungsten and tantalum, are recycled at our Tranzact facility in central Pennsylvania. Three of our facilities, located in Newark, NJ, Austin, TX, and Gulfport, MS, process used catalytic converters, recycling platinum, palladium, and rhodium, known as PGM's (Platinum Group Metals).
Metalico operates three automobile shredders. Our first is located on Neville Island near the city of Pittsburgh which serves as the platform for the Southwestern Pennsylvania operations. We operate another shredder in nearby Youngstown, Ohio, which serves as a platform for four Ohio facilities. Our newest shredder, located in Lackawanna, New York, provides an outlet for thirteen facilities in surrounding Upstate New York and Northwestern Pennsylvania.
Metalico has earned a reputation for professionalism and trust with consumers and other large metal buyers. Mills and metal buyers know that Metalico delivers quality materials with exceptional reliability. This means that scrap suppliers can rely on Metalico to accept materials at a fair price, in both up and down markets.
Metalico and the Environment:
The recycling of metals saves natural resources, energy, and consumption of scarce landfill space. Metalico scrap locations offer easy access, quick payment and fair prices to peddlers and local residents--this encourages additional recycling of metal scrap, such as siding, window frames and doors, which typically end up in landfills.
The U.S. Environmental Protection Agency (EPA) recognized the Company's use of renewable wind energy and named Metalico as a Green Power Partner. Metalico will continue to contribute to efforts to use renewable energy, reduce pollution and encourage recycling.
Quotations for Metalico, Inc. are listed on the American Stock Exchange (AMEX) under the symbol MEA.
Carlos E. Agūero founded the Company in August of 1997 and has served as our Chairman, President and Chief Executive Officer and as a Director since that time. From February 1988 to December 1996, he held the position of President, Chief Executive Officer and Director of Continental Waste Industries, Inc., which he founded in February 1988 and helped guide through more than thirty acquisitions and mergers. Continental commenced trading on the NASDAQ National Market in November of 1993 and was acquired by Republic Industries, Inc., in December of 1996.
Michael J. Drury has been an Executive Vice President of the Company since our founding in August 1997 and a Director since September 1997. He served as our Secretary from March 2000 to July 2004. From 1988 to 1997, Mr. Drury was Senior Vice President, Chief Financial Officer, and a Director of Continental Waste Industries, Inc. He has a degree in accounting and is experienced in acquisition development, investor relations, operations, and debt management.
Arnold S. Graber has been an Executive Vice President and the General Counsel of the Company since May 2004 and the Secretary since July 2004. From 2002 until April 2004 he practiced with a law firm in New York, New York, where he focused on transactional matters and corporate finance. From 1998 to 2001 he served as general counsel of a privately held national paging carrier and telecommunications retailer. Prior to that time he practiced in Chicago. He has nearly thirty years' experience as a commercial and transactional generalist. He is a member of the bars of the States of Illinois, New Jersey, and New York.
Kevin Whalen was appointed Senior Vice President & Chief Financial Officer in June, 2012. Kevin joined the Company in July 2004 as Corporate Controller. From 2000 until that time he served as Finance Manager of Ivoice, Inc. in Matawan, New Jersey. From 1996 to 2000 Mr. Whalen served as Corporate Controller for Willcox & Gibbs in Carteret, New Jersey. His responsibilities at Metalico include financial statement preparation and SEC reporting. Mr. Whalen is a Certified Public Accountant.
Eric W. Finlayson was appointed Senior Vice President , Treasurer & Director of Risk Managementand in June, 2012. Mr. Finlayson, has been a Senior Vice President since our founding in August 1997. Mr. Finlayson is a Certified Public Accountant with twenty-five years of experience in accounting. He has extensive background in SEC reporting and compliance. From 1993 through 1997, Mr. Finlayson was Corporate Controller of Continental Waste Industries, Inc.
David DelBianco was appointed Vice President of Business Development in August 2006. He joined the Company in April 2004 in the function of Operations and Business Development. From 2001 until that time he held the position of Controller and Vice President of PSEG Asset Management, Inc. in Newark, New Jersey. Mr. DelBianco held the position of Controller with Continental Waste Industries, Inc. in 1994, and remained with Republic Services, Inc through 2001 after the merger of those two companies in 1997. His duties at Metalico include acquisition development, operations, and information systems. Mr. DelBianco is a Certified Public Accountant.