BUYINS.NET: TNK, XRM, GMO, LNG, MEA, AVTR Have Been Added To Naked Short List Today
Monday May 19, 2008 04:30:05 EDT
Metalico Inc (AMEX:MEA) through its subsidiaries, engages in ferrous and non-ferrous scrap metal recycling and lead-based products fabrication activities in the United States. Its Ferrous and Non-Ferrous Scrap Metal Recycling segment collects industrial and obsolete scrap metal; processes into reusable forms; and supplies the recycled metals to electric arc furnace mills, steel mills, foundries, secondary smelters, aluminum recyclers, and metal brokers, as well as to exporters and international brokers. This segment offers ferrous products, which include sheared and bundled scrap metal, and other scrap metal, such as turnings and busheling, and cast and broken cast iron; and processes and packages non-ferrous metals, including aluminum, copper, stainless steel, brass, nickel-based alloys, and high-temperature alloys for resale. The company's Lead Fabrication segment produces and sells sheet lead, shot, extruded strip lead, and cast lead, as well as other lead products, including roof flashings, lead wool, anodes, and babbitt. Its products are used in the roofing, plumbing, radiation shielding, electronic soldering, ammunition, and automotive industries. This segment also sells its products to the contractors in the U.S. Department of Defense. As of December 31, 2007, the company operated 11 scrap metal recycling facilities; an aluminum de-ox plant; and 5 lead product manufacturing and fabricating plants. Metalico was founded in 1997 and is headquartered in Cranford, New Jersey. With 35.38 million shares outstanding and 1.72 million shares declared short as of April 2008, there is a failure to deliver in shares of MEA. According to quarterly data provided by the SEC, there were still 50,876 shares of MEA that were failing-to-deliver as of September 28, 2007.
