MINNEAPOLIS--ARCA Recycling, Inc., a wholly owned subsidiary of Appliance Recycling Centers of America, Inc. (NASDAQ: ARCI), recently signed new contracts to manage turnkey appliance recycling programs for seven utilities in eight states: California, Idaho, Indiana, Kentucky, Michigan, Pennsylvania, Washington and West Virginia.
These multi-year contracts, which vary in length, will begin during the second and third quarters of 2016. All seven contracts encompass appliance recycling; one contract also includes appliance replacement.
“Utility interest in our recycling programs remains heavy,” said Edward R. (Jack) Cameron, ARCA Recycling’s President. “We appreciate the time, effort and financial resources our utility partners are investing in energy-efficiency programs with important environmental benefits.
“During this busy start-up period, I also want to recognize ARCA personnel for successfully managing higher volumes in our call centers and handling additional appliances through both our existing and newly opened recycling facilities,” noted Cameron. He added that ARCA Recycling has been especially busy since last fall helping utilities impacted when another recycling firm suspended its activity.
On April 1, ARCA Recycling launched seven turnkey appliance recycling programs, which was the largest one-day roll-out in company history. Most of these programs were announced in March.
ARCA has nearly 40 years of leadership in appliance recycling, including regional processing centers across the U.S. and state-of-the-art technology that removes environmentally damaging substances and produces byproducts for recycling.
About Appliance Recycling Centers of America (ARCA)
ARCA's three business components are uniquely positioned in the industry to work together to provide a full array of appliance-related services. ARCA Advanced Processing, LLC employs advanced technology to refine traditional appliance recycling techniques to achieve optimal revenue-generating and environmental benefits. ARCA (www.ARCAInc.com) is also the exclusive North American distributor for UNTHA Recycling Technology (URT), one of the world's leading manufacturers of technologically advanced refrigerator recycling systems and recycling facilities for electrical household appliances and electronic scrap.
ARCA's regional centers process appliances at end of life to remove environmentally damaging substances and produce material byproducts for recycling for utilities in the U.S. and Canada. Eighteen company-owned stores under the name ApplianceSmart, Inc.®(www.ApplianceSmart.com) sell new appliances directly to consumers and provide affordable ENERGY STAR® options for energy efficiency appliance replacement programs.
This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including statements regarding ARCA's future success. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made, including the risks associated with general economic conditions, competition in the retail and recycling industries and regulatory risks. Other factors that could cause operating and financial results to differ are described in ARCA's periodic reports filed with the Securities and Exchange Commission. Other risks may be detailed from time to time in reports to be filed with the SEC.