Commercial Services and Supplies
Company Overview of Metalico Inc.
Metalico, Inc., together with its subsidiaries, engages in scrap metal recycling business. The company collects and processes ferrous and non-ferrous metals; and collects and processes industrial and obsolete scrap metal into reusable forms, and supplies recycled metals to consumers, including electric arc furnace mills, integrated steel mills, foundries, secondary smelters, aluminum recyclers, and metal brokers. It also acquires and sells unprocessed scrap metals to consumers in the United States and Canada, as well as to exporters and international brokers. The company’s ferrous products primarily include sheared, bundled, and shredded scrap metal; and other scrap metal, such as plate and ...
186 North Avenue East
Cranford, NJ 07016
Founded in 1997
Key Executives for Metalico Inc.
Co-Founder, Chairman, Chief Executive Officer and President
Founder, Chief Operating Officer, Executive Vice President and Director
Chief Financial Officer and Senior Vice President
Executive Vice President, General Counsel and Secretary
Senior Vice President, Director of Risk Management and Treasurer
Compensation as of Fiscal Year 2015.
Metalico Inc. Key Developments
Metalico Mulls Acquisition
Sep 11 15
Metalico Inc. (AMEX:MEA) announced the closing of acquisition of Metalico by Total Merchant Limited. Subsiquently, the transaction strengthened the Metalico's balance sheet which will reinvigorate Metalico as a prominent force in its markets and potential acquirer of other scrap operations.
Metalico Inc., Special/Extraordinary Shareholders Meeting, Sep 11, 2015
Jul 17 15
Metalico Inc., Special/Extraordinary Shareholders Meeting, Sep 11, 2015., at 08:30 US Eastern Standard Time. Location: at the offices of the Lowenstein Sandler LLP. Agenda: To consider and vote on a proposal to adopt the Agreement and Plan of Merger, dated as of June 15, 2015, by and among Total Merchant Limited (Parent), TM Merger Sub Corp. (Merger Sub) and the company, as amended and as such agreement may be further amended from time to time (Merger Agreement); and to approve a proposal to adjourn the special meeting if there are insufficient votes to adopt the merger agreement as amended at the time of the special meeting.
Metalico Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 20 15
Metalico Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, revenue was $75.888 million against $118.539 million a year ago. Operating loss was $8.944 million against $3.083 million a year ago. Loss from continuing operations before income taxes was $10.72 million against $5.395 million a year ago. Loss from continuing operations was $10.878 million or $0.15 per basic and diluted share against $4.797 million or $0.09 per basic and diluted share a year ago. Net loss attributable to the company was $10.878 million or $0.15 per basic and diluted share against $3.918 million or $0.08 per basic and diluted share a year ago. LBITDA was $5.274 million against EBITDA of $3.103 million a year ago. Cash flow from continuing operating activities was $16.0 million as compared to $7.4 million. The company’s first quarter loss was largely attributable to sharp declines in both selling prices and volumes within a short period of time, which hurt margins. The increase in cash flow was largely due to reductions in inventories and accounts receivable that followed lower prices and volumes. Capital expenditures were $1.8 million, principally for processing equipment, shredder upgrades, and building improvements at several facilities. In an effort to conserve capital, the company is restricting capital expenditures to minimum requirements.
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