USA Recycling Industries, Inc. (USRI)

[LicharTin]

VYGO new news! from scottrade alert!



Dec 29, 2010 (Reading Eagle - McClatchy-Tribune Information Services via
COMTEX) -- Vincent J. Smith has been named chairman and chief executive officer
of Voyager Petroleum Inc. following the completion Tuesday of that company's
purchase of Smith's Scrap USA.

Sebastien DuFort resigned Tuesday as CEO of the petroleum brokerage/distributor.
He will remain with the company.

Voyager Petroleum, based in Centennial, Colo., recycles and processes automotive
oils.

Smith called the deal a reverse merger in which shares were exchanged.

Typically in a reverse merger, a private company, such as Scrap USA, buys a
publicly traded company such as Voyager Petroleum. This arrangement allows the
private company to be publicly traded without going through the lengthy process
of going public. Voyager trades on the Nasdaq pink sheets under the ticker
symbol VYGO.PK.

Smith said he has a 12- to 18-month horizon for ramping up the Voyager stock to
the Nasdaq bulletin board, then the Nasdaq small cap.

In this case, Voyager technically bought Scrap USA, 213 S. 11th St., which Smith
founded in 2007 as a scrap metal recycler and now targets the automotive
industry with more than 4,000 clients. Scrap USA will become a subsidiary of
Voyager.

Smith, 48, of Cumru Township, is immediately relocating the administrative
offices of Voyager from Centennial to Reading. His company will move the
business offices to 505 Penn St., in the former Stichter Hardware building,
Saturday. Scrap USA will keep the warehouse on South 11th Street.

He said he has an experienced management team, including his two younger
daughters, Tiffany Smith and Angela Kopcik, and he plans to add truck drivers,
laborers and office personnel over the next 30 to 60 days. The companies
combined have 100 workers.

He said the deal is good for Scrap USA because its customer base was looking for
more services. Scrap USA recycles auto parts, such as mufflers, brake drums and
brake rotors. Voyager recycles automotive oils.

"It really fits in with what we do," Smith said. "It's one-stop shopping in
recycling. The next logical step for us would be tires."

The used auto products are sold to re-refiners here and abroad and are sold as
eco-friendly products, such as new motor oils, lube and antifreeze, he said.

"They come back as an eco-friendly second life," Smith said. "Everybody likes
second lives."

Contact Karen L. Miller: 610-371-5049 or [e-mail].



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Karen Miller


Copyright (C) 2010, Reading Eagle, Pa.

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