Empire Resources Ranked #23 Among "Top 50 Service Center Industry Giants" In Annual Survey
FORT LEE, N.J., Sept. 27, 2012 /PRNewswire/ -- Empire Resources, Inc. (OTCQX: ERSO), a distributor of value added, semi-finished metal products, announced today that it has been ranked #23 among the "MCN Top 50" metals service center companies in North America in an annual survey conducted by Metal Center News. This marks the second consecutive year that Empire Resources has been included in the top 25 service centers in the industry, which is based on total revenues of the largest metals service center companies for the most recently completed fiscal year.
Empire Resources earned the #23 position based on its reported 2011 revenues of $515 million, which were up 11% from the prior year.
Nathan Kahn, Empire Resources' President and Chief Executive Officer, commented: "We are proud that Empire Resources has continued to rise within the ranks of the top 25 service centers. Significantly, we moved up in the rankings from #30 in 2009 to #23 in 2011 entirely through organic top-line growth, at a time when many companies in our sector have expanded through M&A transactions. We believe that our ability to grow and build our market position reflects Empire Resources' commitment to provide our customers with a high level of service and cost-effective, quality products."
Metals service centers provide distribution and value added metals processing services. Empire Resources has been in the business of metals distribution since 1986 and sources products to meet customers' needs from carefully selected suppliers around the world. The Company also offers ancillary services such as arranging warehousing for just-in-time delivery, providing timely market trend and product development information, arranging metal processing or finishing services as needed, and making material available from its own stock to meet customers' short-term requirements.
About Empire Resources, Inc.
Empire Resources, Inc., is a distributor of a wide range of semi-finished metal products to customers in the transportation, automotive, housing, appliance and packaging industries in the U.S., Canada, Brazil, Australia, New Zealand and Europe. It maintains supply contracts with mills in various parts of the world.
This press release contains forward-looking statements. Such statements involve various risks that may cause actual results to differ materially. These risks include, but are not limited to, the ability of the company to grow internally or by acquisition and to integrate acquired businesses, not being able to improve operating margins and efficiencies, changing industry and competitive conditions, and other risks referred to in the Company's publicly available statements and periodic reports.
SOURCE Empire Resources, Inc.