April 27, 2010 ?Colt Refining, Inc., of Merrimack, NH is pleased to announce the successful acquisition of Waste Management and Recycling Products, Inc. (WMRP) of Scotia, NY. WMRP is the largest Electronics Recycler and Asset Recovery firm in the Capital Region of upstate NY and has been in operation for over 20 years. Colt Refining, Inc. operates precious metal refining and electronics recycling facilities in Merrimack and Hudson, NH.
This acquisition enables WMRP to better serve our clients by offering a complete downstream process for the materials we handle. Colt?s fully auditable shredding and separation technology, coupled with their precious metal refining capabilities provides a platform for us to increase our service offerings and expand the business in the region,? stated Peter Muscanelli, President of WMRP.
Mr. Muscanelli will join the company as Vice President of Sales and Marketing for Colt Recycling, the E-Scrap processing division within Colt. ?We are excited to have completed this acquisition and look forward to integrating the WMRP facility into our operations. Peter?s extensive industry experience, including his founding and development of the International Association of Electronics Recyclers (IAER), will serve him well in his new role with Colt as we look to expand into other locations and regions of the country, stated Harvey Gottlieb, President of Colt Refining.
With the acquisition of WMRP and its 40,000 square foot processing facility, Colt now has the ability to leverage this location to expand its electronics recycling and asset recovery services beyond the New England states. Current plans for 2010 include developing additional processing locations, forging strategic partnerships, as well as exploring potential acquisitions that expand Colt’s geographic reach.
Colt Refining, Inc. operates the largest fully permitted precious metals refining facility on the East Coast. The operation was designed to process all types of PM bearing materials and includes state-of-the-art Thermal Oxidizing Systems, Induction Melting Equipment, Milling/Blending/Sampling Process Equipment and Chemical Processing Lines. Our in-house ICP and Fire-Assay labs allow customers to receive accurate results in a timely manner. Colt Recycling, the E-Scrap processing division of Colt Refining, Inc., is the largest processor of scrap electronics in the Northeast, processing in excess of 20M pounds annually. Colt offers professional, domestic processing solutions to the Fortune 500, Telecom and OEM markets utilizing our custom designed shred/separation/destruction system. Colt also specializes in the outright purchase of precious metal bearing materials and commodities from E-Scrap collectors and recyclers nationwide.
For more information please contact:
Colt Refining, Inc.
Vice President, Sales and Marketing