This morning, USA Recycling Industries, Inc. announced it has signed a Letter of Intent to acquire a 51% interest in the scrap metal auto parts export business of Earth Metal Scrap USA, Inc, a New York Metropolitan Area based export firm with trading facilities in India and Dubai. The agreement specifies a closing date of no later than 14 days from the date of the Letter of Intent.
USA Recycling Industries CEO, Vincent J. Smith, stated, “The Agreement with Earth Metal Scrap USA allows the Company to have significant access to end-users & considerable pricing advantages when negotiating within the international scrap metal trading markets.”
Earth Metal Scrap USA CEO, Kamal H. Patel, added, “This arrangement provides our international consumers with direct access to a large North American scrap metal auto parts supplier with a high-quality, on-going stream of foundry-grade materials.”
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