NEW YORK, NY -- (MARKET WIRE) -- 09/29/09 -- NYMET Holdings Inc. (PINKSHEETS: NYMH), an innovative metals and mining company headquartered in Port Jefferson, N.Y., announces that the first 1,000 ton purchase order of ferrous scrap metal has been fully recovered from the Reed Saw Mill Project and been delivered to Bayou Steel. Furthermore, NYMET has received a second purchase order from Bayou Steel.
The initial purchase order between NYMET and Bayou Steel was successfully completed and all ordered material has been delivered to Bayou Steel's La Place facility in nearby Louisiana. NYMET's logistics department organized and concluded the transportation requirements for this transaction, overseeing daily deliveries to the facility. As a direct result of the initial relationship with Bayou Steel, NYMET received a second purchase order for an additional 1,000 tons of ferrous scrap metal. This purchase order negotiation was handled by NYMET's management and was officially finalized on Monday, September 28th, 2009.
NYMET received a substantial increase in the purchase price from Bayou Steel for the second purchase order. This is in direct correlation to the bullish market conditions in the steel market. Market analysts in the steel sector anticipate these bullish conditions to continue through the year-end.
NYMET Senior Vice President, Edward R. Gulmi, stated: " NYMET's overall mission remains focused on the expansion of its sales to larger steel consumers across the world. Furthermore, NYMET aims to align itself with top companies as we target additional acquisition and merger opportunities."
| NYMET HOLDINGS, INC. Stock Symbol :: NYMH |
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 | NYMET HOLDINGS, INC. (NYMH) Nymet Holdings, Inc. is a New York based metals and mining holding company. | |||||||||||
Nymet Holdings, Inc. 84 Nesconset Hwy. Port Jefferson, New York 11776 Phone: 631-923-1400 Fax: 631-923-1404 http://www.nymetholdings.com |
· Metalico, Inc. (Metalico) operates in two business segments: scrap metal recycling (Scrap Metal Recycling), and lead metal product fabricating (Lead Fabricating). The Company’s operating facilities, as of December 31, 2008, included 20 scrap metal recycling facilities located in Buffalo, Rochester, Niagara Falls, Lackawanna, and Syracuse, New York, Akron, Ohio, Newark, New Jersey, Buda and Dallas, Texas, Gulfport, Mississippi , Pittsburgh, Brownsville, Sharon, West Chester and Quarryville, Pennsylvania, Colliers, West Virginia, an aluminum de-ox plant located in Syracuse, New York and four lead product manufacturing and fabricating plants located in Birmingham, Alabama, Healdsburg and Ontario, California and Granite City, Illinois, and a lead product distribution facility in Carson City, Nevada. AMEX:MEA Recent Price: $4.50
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| Current Projects |
 | NYMET Holdings Inc. (NYMH) Announces the Company Entered Into a Sales Contract With Bayou Steel Incorporated NYMET Holdings Inc. has announced the receipt of a Purchase Order for ferrous scrap metal from the C.A. Reed Saw Mill Demolition and Recovery Project with steel processing giant, Bayou Steel Incorporated. The Purchase Order calls for the sale of 1,000 gross tons of steel to be delivered to the Bayou Steel, LaPlace facility over the next several weeks. NYMET's management has concluded the logistics and organized the necessary requirements to begin loading and shipping the contracted material. | NYMET Holdings Inc. (NYMH) Announces Demolition Successfully Underway on CA Reed Saw Mill Project
NYMET Holdings Inc. recently announced that personnel have commenced the demolition and recovery process for the CA Reed Saw Mill project. The contracted demolition company has begun executing demolition work scheduled as planned and anticipates the completion of the demolition portion of the project within the next 60 days. Furthermore, the first 1,000 tons of material, already sold through a Purchase Order with Bayou Steel Incorporated, is already processed and on the ground ready for shipment to the Bayou Steel, LaPlace facility.
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| Company Overview |
Nymet Holdings, Inc. (OTC.PK: NYMH)
Nymet has successfully developed working relationships for the sale of commodities both domestically and internationally and holds strategic assets across the metals exploration, recovery and processing industries through its wholly owned subsidiaries Nymet Industrial Solutions and Nymet Mining respectively.
Nymet Industrial Solutions
Nymet Industrial Solutions has successfully developed working relationships across the scrap metals industry as well as in the steel production industries which include several scrap metal facilities located in the Dominican Republic, Puerto Rico, Trinidad, St. Lucia, New Jersey, New York, Texas, Canada, Atlanta Georgia, Detroit, Indiana and Louisiana. Nymet Industrial is currently selling its products to Asia and the Pacific Rim countries with supplies met from the USA, the Caribbean and South America.
Scrap Metal
Facilities
Nymet Industries has established relationships with several owners of scrap metal facilities located both domestically and internationally. Nymet Industrial has helped capitalize facilities in the Dominican Republic with over $90,000 in deposits and $200,000 in material. Nymet Industrial has also ensured a long term supply of scrap metal. NymetIndustrial is buying scrap metal (called HMS- 1&2) from these facilities at market prices and selling it to customers located in Europe, Asia, India and other parts of the Pacific Rim.
HMS- 1 & 2 Scrap Metal Sales
Scrap metal sales are expected for March, April and May 2009 for 1000 MTS ($235,000), 2000 MTS ($480,000) and 2500 MTS ($600,000) respectively to Triumph Steel (HMS 1&2 scrap metal steel producer), E-Fortune (HMS 1 scrap metal scrap processing facility located in Kaosihung Taiwan), CAN Metals, Inc. (scrap metals exporting business located in Texas) and several other customers.
Auto Shred Sales
Nymet Industrial purchases auto shred from a facility located in Oswego, NU. Auto shred sales are expected to be 2000 MTS ($460,000), 2500 MTS ($575,000) and 3000 MTS ($690,000) for April, May and June 2009.
Strategy
Nymet Industrial plans to acquire additional scrap metal from existing scrap yard facilities while at the same time increasing the operational efficiency of its scrap facility located in the Dominican Republic. Furthermore, upon obtaining the necessary financing, Nymet Industrial plans to acquire its own processing facility located in the U.S.
Waste Paper
Nymet is in the process of executing a purchase contract with one f the largest paper producers in the world located in Izmir, Turkey. These waste paper facilities in Turkey encompass 26 pulping factories which each produce approximately 1 million MTS of waste paper per year.
Nymet is finalizing a contract to ship 100 MTS of waste paper per month to one of these facilities in Izmar, Turkey. Nymet has successfully obtained enough waste paper material from a facility in the Metropolitan area of New York to procure the contract currently in place.
Nymet is currently in the process of negotiating with additional facilities in Turkey. The remaining 24 facilities represent a total market of approximately 24 million MTS of waste paper per year.
Used Batteries
The Facilities
Nymet has relationships with several scrap yards in the Dominican Republic, Trinidad and Atlanta, Georgia that supply the company with used batteries.
Used car and truck battery recycling is a large industry for countries like China and India.They utilize the waste battery and recover the lead and polypropylene plastic. They then smelt the scrap leads into lead ingots and resell them to the manufacturing sector.Used batteries are typically stored in a covered warehouse facility to keep them dry and away from the elements.
E-Scrap
The Facilities
Nymet has relationships with several e-scrap facilities located in the United States.The growing problem with the waste management of e-scrap (disposable computers and computer components) is a primary goal for Nymet to obtain and develop recycling capabilities for various e-waste products. The global demand and the profitable recovery of precious metals located within the e-scrap is yet another profitable avenue for Nymet while helping the environment.
Consulting Service
The company is considering providing a waste line management service for e-scrap consulting companies on how to sort and dispose of e-scrap from their mainline garbage stream. Nymet could charge $1500 per month in consulting fees and pick up the e-scrap for free which it would then resell to its customers.
LEADERSHIP
Mark Klok, CEO, Director
Mr. Klok has over a decade of investment banking experience in structuring and negotiating mergers and acquisitions, raising private equity, debt, bringing companies including gold mining, oil and gas, bio-technology, and real estate. Additionally, he has extensive knowledge in using the OTCBB, AIM and TSX exchanges to bring companies public and to access institutional funds through the capital markets.
Robert Barry Howie, VP Mining Operations, Director
Mr. Howie has a lifetime of technical experience having started his career over 40 years ago. From 1964 to 2006. Mr. Howie has worked at various mining companies such as Wilder and Associates, Sceptor Resources, Ltd. and Mexican Hunter S.A. de C.V. and in various countries. Mr. Howie’s technical expertise includes mine planning, design and layout (underground, open pit and dredging), hard-rock mining plant fabrication and installation, placer mining plant fabrication and operation, and geophysical survey design and execution. Mr. Howie’s management skills include ground acquisition and exploration program planning and managing large work-forces in foreign countries.
Edward R. Gulmi, Senior VP, Industrial Operations
Mr. Gulmi has over 20 years of experience in the import and export of commodities including logistic development, sales and marketing, agriculture and industrial production, international and domestic finance, purchasing and distribution on a global basis. He is one of the founders of Trade House Co., Inc. and Jam Import Export Co., Inc. international trading companies involved in the import and export of agricultural products, where he created large products with some of the top 100 food processing companies in the U.S.
William Dollard, New Projects, Chairman, Director
Mr. Dollard has enjoyed a successful career in the building and development industry has been brought into Nymet to oversee the Demolition and Waste Recycling Divisions of the company. Mr. Dollard’s experience in the demolition, construction and redevelopment of real estate adds a vertical that will allow the company to embark upon projects from recycling to the redevelopment of property.
James Gardner, Senior VP
Mr. Gardner is the point contact executive for customers and is the Director of the Sales Department. He has an extensive background in business development and project management. His professional background is based on the successful financial development of real property, restaurants, industrial building supplies, including raw materials and agricultural commodities.
Ken Strassfield, Sales Director
Mr. Strassfield has over 20 years of experience in import, construction and commodities including logistic development, sales and marketing. Mr. Strassfield brings to the company a considerable wealth of knowledge and expertise he gained from years of trading in cement as well as his dealing in real estate and construction.
News- NYMH Announces the Successful Completion of Initial Purchase Order and Receipt of Second Purchase Order From Bayou Steel, Inc.
September 29, 2009 - NYMH Announces Euler Hermes Credit Insurance Approval
September 28, 2009 - NYMH Engages a Top Accounting Firm to Commence Audit
September 28, 2009 - NYMH Announces the Retirement of 240,000,000 Common Shares
September 25, 2009 - NYMH Announces Sales of Non-Ferrous Metals to Commence From the Reed Saw Mill Project
September 22, 2009 - NYMH Announces Engagement of Crowell & Moring LLP as Corporate Counsel
September 21, 2009 - NYMH Announces the Commencement of Steel Shipments From Puerto Rico to Hong Kong
Setpember 19, 2009 - NYMH Announces the Finalization of Agreements With Sub Contractors for the Commencement of Marine Salvage Operations
September 17, 2009 - NYMH - Announces Purchase Contract With Hong Kong Based Scrap Dealer Coppola Asia Limited
September 16, 2009 - NYMH Announces the Successful Acquisition of Two Ferry Barges for Salvage
September 15, 2009 - Congratulations to all on NYMH
September 14, 2009 - NYMET Holdings Inc. (NYMH) Successfully Executes Purchase Contract for Marine Salvage Port Facility
September 14, 2009 - NYMH - Announces the Successful Commencement of Steel Shipments to Bayou Steel
September 11, 2009 - NYMH - New Featured Report on OTCReporter.com NYMH
September 11, 2009
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