Stocks & Investing
Stocks and Investing
Stocks and Investing
Tue, July 13, 2010
Mon, July 12, 2010 NYMET Holdings Inc. (NYMH) Announces Overview on the Metal Recycling Sector
NEW YORK, NY--(Marketwire - July 12, 2010) - NYMET Holdings Inc. (
The metal recycling industry has gone through a major transformation over the past fifteen years. The current global demand within the steel production market is forecasted to increase by approximately 20% year-over-year as demand for scrap metal, particularly in emerging markets like India where the YOY increase has been greater than 40% over the last two years. China has also demonstrated incredible resiliency in scrap steel imports. The Chinese demand for steel scrap imports for Jan-Feb 2009 grew by more than 300% from the similar period in 2008 to reach approximately 1.818 million tons. As reported by industry statistics, the global scrap metal industry reported over 20 million metric tons of various scrap metal being sold to Asia last year alone.
With market consensus forecasting significant growth, the industry has experienced, in recent years, a considerable amount of merger and acquisition activity. The major market players have been actively acquiring and constructing new steel production facilities to feed the growing global demands. Large smelting facilities are investing enormous capital into existing and new production facilities. Although significant consolidation has occurred, the US scrap and international metal management industry remains highly fragmented and considerable consolidation opportunities remain.
The renewable metal management industry is a vital component to the economic cycle and perhaps serves as one the best examples of globalize business. Today, the recycling timeline has become staggeringly short. For example, in a matter of months, someone's scrap appliance can be recycled from the owner's front yard garbage pickup, to a local scrap yard, then on its way to China where it can recycled back into a new consumer item that is sold in the very same city where the original scrap item originated. This type of recycling happens every day multiplied by tens of thousands of metric tons. This type of efficiency can only be achieved with an expertise in global market trading and logistics. Nymet recognizes the importance of this level of expertise and the need for acquisitions of companies that have the trading platforms and logistics expertise to effectively operate in the renewable metal management industry.
The renewable metal management industry has also been typically categorized as an "under the radar" industry. As such, the industry does not attract the tier 1 executive candidates from the business world. Instead, top management in the industry is usually groomed from within. Nymet recognizes the need for top management in any successful industry participant and will aggressively pursue the very best talent that the industry has to offer.
DISCLAIMER: CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
The results described herein cannot be guaranteed. The development of any and all of the subject mining claims stated herein is contingent upon multiple high risk factors that must be successfully dealt with in order to achieve the intended results. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. These expectations and assumptions are subject to risks and uncertainty, which could affect NYMET Holdings future. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of NYMET Holdings to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. NYMET Holdings undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in NYMET Holdings expectations.
