SARASOTA, Fla., Oct. 28, 2010 (GLOBE NEWSWIRE) -- Resource Exchange of America Corporation (OTCBB:RXAC) (), a Florida-based recycling company, is pleased to comment on the latest projections for the global industry.
Despite recent claims that tightened environmental regulations and exaggerated output from Chinese mills will soon see a peak in the demand for steel, many industry insiders now believe the markets will experience continued growth into the foreseeable future.
"It's a great time to be in the recycling business," says Dana Pekas, CEO of RXAC. "As the industry looks to more sustainable sources for core materials used in the production of steel, demand in the recycling sector is only going to grow."
Recent figures from Hatch Corporate Finance (source: ) reveal that by the year 2050, the world's projected 9 billion population will require 300kg steel pp, against today's per capita figure of 187kg. Based on these predictions, the global demand for steel is essentially set to double.
"As governments place increased environmental constraints on the manufacturing industry and as certain markets recover following the recession, the popularity of steel scrap continues to grow," adds Pekas. "As a raw material steel scrap can be used over and over without loss of integrity. This in turn conserves energy and prevents waste. It's a win-win situation."
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.
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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.
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