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
http://www.ssci.org/news/details.aspx?ArticleID=166
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
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