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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Dave H who wrote (9036)	12/9/1997 8:31:00 AM
From: ivan solotaroff	Respond to of 79308

Not to clutter up the thread or nothin', but: NEWS: ENGLEWOOD, Colo., Dec. 9 /PRNewswire/ -- Recycling Industries, Inc., (Nasdaq: RECY), a company engaged in the acquisition and consolidation of metals recycling companies and a major national raw materials supplier to the mini-mill sector of the steel industry, announced today that it has completed the acquisitions of Jacobson Metal Company, letter of intent (LOI) announced September 3, 1997; Grossman Brothers Company and Milwaukee Briquetting Company, LOI announced September 12, 1997; United Metal Recyclers, LOI announced October 9, 1997; Brenner Companies, LOI announced October 13, 1997; William Lans Sons Company, LOI announced November 3, 1997; and Central Metals Company, LOI announced November 4, 1997. Recycling Industries, Inc., disclosed the aggregate purchase price for these six businesses was $151 million which included approximately $37 million in working capital. The aggregate purchase price was a combination of $115 million in cash, $2.8 million in assumed liabilities, $4.0 million in assumed deferred payments, $19.2 million in convertible preferred equity and $10.0 million in common stock. These six companies have estimated annual revenues of approximately $195 million bringing the annual revenue run rate of Recycling Industries to approximately $285 million. The combined earnings before interest, taxes, depreciation, and amortization (EBITDA) of these six acquisitions is approximately $25 million based upon estimated 1997 fiscal year results. These acquisitions were financed with a portion of the $220 million of financing the Company announced on December 8, 1997. Proceeds were also used to repay existing indebtedness of $35.3 million. Additional proceeds are available for future acquisitions and general corporate purposes. This financing was syndicated by G E Capital Merchant Banking Group and BankBoston, N.A. which provided a $150 million senior credit facility to the Company of which $57 million remains unused. Subordinated debt of $60 million was placed with a group of investors led by SunAmerica. The Company also placed $10 million of common equity. Imperial Capital, LLC acted as Investment Banker for Recycling Industries, Inc. in connection with this $220 million financing. Tom Wiens, Chairman and CEO of Recycling Industries, said, "We are pleased to welcome this distinguished group of metals recycling companies into the Recycling Industries' family. All of these companies are premier operations and are expected to be accretive to earnings. The closing of these six transactions represents an important step in the execution of our long-term industry cosolidation program. This also demonstrates that our excellent senior management team has the ability to identify, evaluate, structure, and close acquisition transactions that will be both top and bottom line contributors. We believe this reaffirms Recycling Industries position as one of the top leaders in our industry." Note particularly the phrase: "Additional proceeds are available for future acquisitions and general corporate purposes." GO RECY GO RECY GO RECY GO!!!!!!!!!!

To: Dave H who wrote (9036)	12/9/1997 12:20:00 PM
From: James Strauss	Read Replies (1) \| Respond to of 79308

APGR... >>>Been working on scans. Still need some more work to do but here's one that's pretty close I think (if I've got the rules right!): APGR -- I think yesterday was day 9 of the completion (so 4 completion days left....)<<< ******************************* Dave: MACD is neutral on the daily chart, but negative on the multi day charts... Moneyflow is slightly positive... A close above 6.00 gives it a rising bottom... A close above 6 3/8 crosses a prior mini top... A good entry point... Jim