Stocks & Investing
Stocks and Investing
Stocks and Investing
Tue, July 20, 2010
Mon, July 19, 2010 NYMET Holdings Inc. (NYMH) Announces Newly Elected President and Chairman's Address to Shareholders
NEW YORK, NY--(Marketwire - July 19, 2010) - NYMET Holdings Inc. (
Newly elected President and Chairman T. Benjamin Jennings issued an address to the shareholders of Nymet Holdings stating, "Since World War II there has been very little substantive change in the Metal Recycling Industry. We have had innovation such as the Prolerizer/Auto Shredder, down-stream separation with Eddie Current (sp) and various other upgrades to processing equipment. While these innovations have taken place there has also been the further maturation of family businesses with local consolidation and upgrades to facilities as cash flow would allow or as the secondary market on equipment further developed. Recently in the last few decades we have seen both private and public companies grow through mergers, acquisitions and green field opportunities. This growth had transpired as management of these traditional companies mostly focused on trading and speculating with some benefit being derived from efficiencies of removing competition from local and regional markets.
"As with many businesses, the opportunity for effective substantial change for the better is not usually tied to one thing but a realization of taking the best of what we learned through operating history, changes in supply and demand, proper capitalization and good use of technology innovation put to use together in such a way that you can fundamentally change the working dynamics of your business while preparing your company for ultimate flexibility in meeting the changes in demand from both the customers you buy from and the companies you sell to. The secret doesn't lie in how many facilities or employees you have, but how well you are able to get outside your business and look inward then recognize the weaknesses and strengths and how you can use the tools of our time to maximize our returns on investments and technology.
"Nymet Holdings management has the vision and has brought together the talent to implement the changes necessary for the opportunities that now present themselves with a team that has learned from the past but has focused on where we are today and where we are headed for the foreseeable future. We have and will always continue to focus on bringing on top talent, with experience but not stuck in the old ways, objectively looking at new technologies and utilization of a world class trading desk with business process analytics at our finger tips so we can act and not be subject to reaction. An operating mantra that focuses on minimizing the effect of commodity price swings and focuses on turning inventory on the world stage and selective acquisitions and green field projects that always allows us to negotiate from strength."
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.
