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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR
15(D) OF THE SECURITIES ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): July 15, 1996
RECYCLING INDUSTRIES, INC.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Colorado 0-20179 84-1103445
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(STATE OR OTHER (COMMISSION (I.R.S. EMPLOYER
JURISDICTION FILE NUMBER) IDENTIFICATION NO.)
OF INCORPORATION)
384 Inverness Drive South, Suite 211
Englewood, Colorado 80112
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)(ZIP CODE)
Registrant's telephone number, including area code: (303) 790-7372
Not Applicable
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT.)
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ITEM 5. OTHER EVENTS
See attached press release.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibit
Number Description
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99 Press Release Dated July 15, 1996 (FILED HEREWITH)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
RECYCLING INDUSTRIES, INC.
Date: July 15, 1996 By/s/ Thomas J. Wiens
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Thomas J. Wiens, Chairman and
CEO
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SHREDDER REBUILD AND TRANSPORTATION INTERRUPTIONS
RESULT IN ANTICIPATED THIRD QUARTER LOSS
FOR RECYCLING INDUSTRIES, INC.
ENGLEWOOD, CO - July 15, 1996 - Recycling Industries, Inc. (Nasdaq: RECY)
announced today that during the Company's third quarter ended June 30, 1996, the
Company initiated a major rebuild of its Nevada automotive shredder in order to
increase efficiency and through-put. The Nevada shredder was under repair and
out of service for approximately three and one-half weeks of the June quarter.
The Company is pleased that this rebuild has been completed prior to its pending
public offering. Additionally, at the end of the June quarter the Company had
finished inventory at its facilities which was not shipped primarily due to
interruptions in transportation. It is anticipated that this finished inventory
will be shipped during the month of July. As a result, the Company anticipates
that it will post a loss of a few hundred thousand dollars for the June quarter.
This loss was partially offset by a positive contribution by the Company's
Mid-America facility which was acquired in April, 1996.
Recycling Industries, Inc. is a full-service metals recycler primarily engaged
in the collection and processing of various ferrous and non-ferrous metals for
resale to domestic and foreign steel producers and other metals processors and
producers. In additions to ferrous and non-ferrous metals, it also processes,
to a lesser extent, paper and plastics. The Company's objective is to become
one of the largest metals recyclers in North America through targeted
acquisitions of independent metals recyclers. The Company, which is
headquartered in Englewood, Colorado, currently owns and operates six metals
processing facilities in Nevada, Texas, and Missouri and is a minority owner of
a facility in Georgia.
A registration statement relating to the Company's securities has been filed
with the Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to the
time the registration statement becomes effective. This announcement shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities law of such state.
