ARCA Recycling Signs New Utility Contracts in Five States
March 23 2016 - 4:15PM
Business Wire
ARCA Recycling, Inc., a wholly owned subsidiary of Appliance
Recycling Centers of America, Inc. (NASDAQ:ARCI), recently signed
contracts to manage turnkey appliance recycling programs for
multiple utilities in five states: Delaware, Georgia, New Mexico,
Maryland and Virginia.
These contracts vary in length and will take effect during the
second quarter of 2016, beginning in early April. Some contracts
resulted from ARCA Recycling’s work assisting utilities impacted by
the suspension of programs managed by a former competitor. In many
cases, ARCA Recycling was awarded long-term contracts after helping
bridge the short-term service gap.
“We’re pleased to help utilities and their customers who were
inconvenienced by disruptions to their programs,” said Edward R.
(Jack) Cameron, ARCA Recycling’s President. “Since late last year
we have been experiencing strong momentum and interest from
utilities.”
As announced earlier this month, ARCA Recycling has been
negotiating utility contracts that reflect the recycling industry’s
changing landscape, notably the sharp decline in scrap metal prices
the past two years.
Cameron concluded, “These new contract wins in five states,
combined with our pricing adjustments, give us optimism for
financial improvements in fiscal 2016.”
ARCA is a recognized leader in appliance recycling programs,
supported by regional processing centers across the U.S. and
utilizing state-of-the-art technology that removes environmentally
damaging substances and produces byproducts for recycling.
About ARCAARCA's three business components are uniquely
positioned in the industry to work together to provide a full array
of appliance-related services. ARCA Advanced Processing, LLC
employs advanced technology to refine traditional appliance
recycling techniques to achieve optimal revenue-generating and
environmental benefits. ARCA (www.ARCAInc.com) is also the
exclusive North American distributor for UNTHA Recycling Technology
(URT), one of the world's leading manufacturers of technologically
advanced refrigerator recycling systems and recycling facilities
for electrical household appliances and electronic scrap.
ARCA's regional centers process appliances at end of life to
remove environmentally damaging substances and produce material
byproducts for recycling for utilities in the U.S. and Canada.
Eighteen company-owned stores under the name ApplianceSmart, Inc.®
(www.ApplianceSmart.com) sell new appliances directly to
consumers and provide affordable ENERGY STAR® options for
energy efficiency appliance replacement programs.
This press release contains statements that are forward-looking
statements as defined within the Private Securities Litigation
Reform Act of 1995, including statements regarding ARCA's future
success. These forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from the statements made, including the risks associated with
general economic conditions, competition in the retail and
recycling industries and regulatory risks. Other factors that could
cause operating and financial results to differ are described in
ARCA's periodic reports filed with the Securities and Exchange
Commission. Other risks may be detailed from time to time in
reports to be filed with the SEC.
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version on businesswire.com: http://www.businesswire.com/news/home/20160323006510/en/
ARCA Recycling, Inc.Edward R. (Jack) Cameron,
952-930-9000President
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