Greenman secures expansion financing
Article Abstract:
GreenMan Technologies Inc., a tire recycler, signed an investment banking and corporate financing agreement with Schneider Securities. In exchange for the financing, Schneider gets cash payment and shares of common stock. GreenMan will use the funds to finance its expansion program, while Schneider is confident that GreenMan will acheive its goals. The approval of the agreement was based on GreenMan's financial record for the first three months of its 1999 fiscal year. GreenMan's financial statements showed a 100% operating profit increase and a 50% revenue increase over its reported profits for the four-month transition period.
Publication Name: Recycling Today
Subject: Environmental services industry
ISSN: 1096-6323
Year: 1999
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SOFT PRICING, TIGHT SUPPLY
Article Abstract:
The ambivalence of the nonferrous scrap metal markets persists, with dealers griping about low prices and consumers expressing concern on supply shortages. Copper and aluminum scrap prices remain stagnant and there are indications that there will be increases to compensate for the price losses in the past one and a half years. The tight supply for scrap metals is expected to last from winter up to April or May 1999. The tight supply in ferrous scrap may be due to a decline in auto shredding operations.
Publication Name: Recycling Today
Subject: Environmental services industry
ISSN: 1096-6323
Year: 1999
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Tirex Corp. receives financing
Article Abstract:
Tirex Corp could obtain up to $5 million in funding after entering into an investment arrangement with a group of institutional investors. The financing would come in the form of debentures convertible into the company's common stock and warrants proportional to the actual amount invested for the acquisition of additional common stock. The funding will allow the company to complete its TCS-1 tire recycling prototype unit into a commercial production unit.
Publication Name: Recycling Today
Subject: Environmental services industry
ISSN: 1096-6323
Year: 2001
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