updated 10/5/2010 8:45:47 AM ET 2010-10-05T12:45:47

SARASOTA, Fla., Oct. 5, 2010 (GLOBE NEWSWIRE) -- Resource Exchange of America Corporation (OTCBB:RXAC), a Florida-based recycling company, is pleased to announce the latest findings from the World Steel Association.

The World Steel Association has reported that global production for crude steel in August was up 4.2% year on year. The figures – based on 66 countries reporting to the WSA – compare favorably to those of the same month in 2008, before the full impact of the global economic crisis was felt.

"These latest figures confirm what RXAC have been seeing in the market for some time," says Dana Pekas, CEO of REAC. "We find the latest round of global and domestic figures extremely encouraging."

The rate of growth of steel and aluminum shipments from North American metals service centers also rebounded in August, according to the Metals Activity Report from the Metals Service Center Institute.

"As we emerge from the recession, the demand for environmentally-friendly technologies and sustainable industrial alternatives continues to grow," adds Dana. "All the figures point towards continued growth in this sector for the foreseeable future."

For more information about the rise in crude steel production, please visit http://www.steelguru.com/international_news/Global_crude_steel_production_in_August_up_by_4pct_YoY/166485.html 


About Resource Exchange of America Corporation

Resource Exchange of America Corporation is working to become a recycling powerhouse by rolling up companies within asset recovery, processing and brokering of ferrous and nonferrous scrap metal. With its access to deep-water ports, the company will be able to sell the scrap metal to clients domestically as well as abroad. Resource Exchange of America Corporation will bring together the best companies within the recycling industry and elevate them to excellence, drawing on the strengths of the individual companies while combining forces to achieve synergies and be able to tackle the biggest jobs.

The Resource Exchange of America logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8018

Disclaimer – Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company's annual report on Form 10-K and other filings made by such company.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com