Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes -- Ignore unavailable to you. Want to Upgrade?

To: Derg who wrote (5433)	4/9/1998 8:45:00 AM
From: TokyoMex	Read Replies (3) \| Respond to of 34592

Looks like IFLY will take off.. More on GMTID Jonathebar reporting on GMTID...... I drove down to Jackson GA yesterday afternoon arriving at the recycling plant around 3:30 PM, and found the office. I had not called ahead. I was greeted courteously and helped promptly by the young woman at the counter, which is where the truck drivers get their paperwork re weight of truck going in and leaving. I was immediately escorted to an office down the hall to a gentleman named Kevin, again greeted courteously, and explained to him the nature of my visit. He asked me to wait while he went to ask if I could be given a tour...within a couple of minutes I was introduced to the plant manager, Mr. James Maust, and immediately offered to tour the facility.... My impression of the offices: clean and organized, gives the impression of being professional and well-run. The offices are definitely not plush ar extravagant. People work here. It looks like a good office to work in. James is a clean cut and professional man. I found him to be very easy to talk to and was very comfortable with him. He also seemed at ease with me, not nervous, elusive, or anything like that. This is his family business, and each facility except LA has a family member present. I like his business card - very tasteful, not extravagant. While walking from the office to the plant (separate buildings) we made some small talk, during which time I mentioned Joe's name, and James knew he had talked to management last week, and were told to expect visitors. He mentioned that he had never been approached about tours of the facilities from stockholders before, and I was the second person that day.... The plant is large and serious. On one side Goodyear has an office, I believe James said ALL of their "adjusted" tires come through this office, then next door to the recycling shredder.....Goodyear presently has a 5 year contract and two 6 year extension options..... There were about a dozen tractor-trailers (trailers only) waiting to be unloaded. GMTID is PAID to take the tires in for recycling ($1 - $2 per tire). Many of the tires come in on wheels, which must be separated and the metal is sold and recycled. This is presumably added to the steel which is removed from the tires... If not restricted (some tires are under contract to be destroyed) the tires are checked for condition and may be separated and sorted for resale as used tires. They are sold in bulk for around $3 each. I saw a good sized room containing what I estimate to be thousand of such tires.... Then the tires are put through a consecutive pair of shredders until chunks are 2" or less, magnets remove the steel belts and beads, tire shreds come out the back end of the building, where the are loaded for transport away. The facility I believe is about 11 acres. It is well kept, not trashy looking in any way. There are many trees around and one would never know from the street what business is going on in the plant. There is an abundance of heavy equipment, and maintenance is done on site. GMTI owns 68 trailers for transportation of product. There are only 14 employees (office and plant). Plant runs 2 shifts. It looks like hard work in the plant, but in the area of Georgia where it is located, it is probably a desirable place to work, I was told that they are paid well and have benefits. (Jackson is a smaller, rural town about 50 miles south of downtown Atlanta). James I believe told me that they have gone from processing 400,000 tires / year to 700,000 tires/year in the last three years. He indicated that he believes this growth has been and will continue to be linear, helped by government policy regarding tire disposal. There is much potential supply from surrounding states of TN,AL,FLA............. In summary, I came away favorably impressed with the operation. It is clean, professional, and organized. Overhead appears to be very reasonable. Small payroll. Shredders are expensive to buy, but not too heavy on the upkeep (knives are $24,000, but can be "re-toothed" as many as ten times, @ $6,000 each time; they must be changed approx every 1 1/2 months). Electricity is $10,000/mo. They are shredding about 2,000 tires/day. I conservatively estimate gross/tire around $4. James suggested calling corp. hq for specific financials.... Hope this helps, Joe. Glad to be able to give something back to you. Let me know what you think about this one.... I like it, and enjoyed the field trip, will take a position...... John