Mr. Allan Goldstein

Allan Goldstein

Very few mills are going to trust a scrap grade being delivered to them off a scrap exchange , said Allan Goldstein , president and CEO of AMG Resources.Perhaps someday in a kinder , gentler society of processors and mills will a futures exchange be able to exist for certain grades of scrap..

Allan Goldstein, CEO and President of AMG Resources Corporation, will speak at the International Symposium on Global Steel and Ferrous Recycling.The symposium, organised jointly by the Bureau of International Recycling (BIR) and the American trade association Institute of Scrap Recycling Industries, Inc. (ISRI) will be held at the Melia Castilla Hotel, Madrid, Spain on May 21.

In the session on overcoming barriers to global market challenges, Mr. Goldstein will focus on factors affecting U.S. scrap pricing and the prognosis for the future.Joining Mr. Goldstein at the symposium will be more than 20 other speakers from the United States, Europe, and Asia for a daylong program highlighting global marketplace challenges for the international scrap-consuming sector.

Mr. Goldstein began his career as an attorney at the New Jersey law firm of Shanley & Fisher in 1974, where he specialized in mergers & acquisitions.In 1988, Mr. Goldstein led a buy-out of Vulcan Materials Co.'s scrap-processing plants and assumed the positions of CEO & President of AMG Resources.Since that time, AMG Resources has more than quadrupled in size and now operates 15 processing facilities in the U.S. and Europe.

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Washington - Allan Goldstein, CEO and President of AMG Resources Corporation, will speak at the International Symposium on Global Steel and Ferrous Recycling.The symposium, organized jointly by the Institute of Scrap Recycling Industries, Inc. (ISRI) and the Bureau of International Recycling (BIR), will be held at the Melia Castilla Hotel, Madrid, Spain on May 21.

In the session on overcoming barriers to global market challenges, Mr. Goldstein will focus on factors affecting U.S. scrap pricing and the prognosis for the future.Joining Mr. Goldstein at the symposium will be more than 20 other speakers from the United States, Europe, and Asia for a daylong program highlighting global marketplace challenges for the international scrap-consuming sector.

Mr. Goldstein began his career as an attorney at the New Jersey law firm of Shanley & Fisher in 1974, where he specialized in mergers & acquisitions.In 1988, Mr. Goldstein led a buy-out of Vulcan Materials Co.'s scrap-processing plants and assumed the positions of CEO & President of AMG Resources.

In turn, Allan Goldstein, president and chief executive officer of AMG, will join Intermetco's board.The companies will be linked when Intermetco officially purchases 13.3 percent of AMG - which is privately held - in exchange for shares equal to 10 percent of the Canadian company's common shares.Intermetco will continue to supply scrap to AMG, and will gain access to the U.S. company's 350 gondola cars.

In turn, Allan Goldstein, president and chief executive officer of AMG, will join Intermetco's board.The companies will be linked when Intermetco officially purchases 13.3 percent of AMG – which is privately held – in exchange for shares equal to 10 percent of the Canadian company's common shares.Intermetco will continue to supply scrap to AMG, and will gain access to the U.S. company's 350 gondola cars.

In turn , Allan Goldstein , president and chief executive officer of AMG , will join Intermetco's board.The companies will be linked when Intermetco officially purchases 13.3 percent of AMG – which is privately held – in exchange for shares equal to 10 percent of the Canadian company's common shares.Intermetco will continue to supply scrap to AMG , and will gain access to the U.S. company's 350 gondola cars.

In a presentation at the joint BIR-ISRI symposium , Allan A. Goldstein , CEO of AMG Resources Corp. , Pittsburgh , said a turnaround is not likely in the foreseeable future.Don't look for relief for the balance of 2001..

Goldstein noted that the industry has always been cyclical , but that the extended good times of the 1990s caused business decision makers from auto producers through steelmakers to scrap dealers to make plans as though the economy would continually grow.Wall Street poured money into the scrap business , but retreated from the market as prices declined , he remarked.

The shakeout and restructuring in the U.S. scrap industry will continue as the banks-which as a result of bankruptcies now [ control many of ] the consolidated scrap companies-exit their investments , Goldstein stated.The banks will not be long-term owners.This may cause a deconsolidation , or more likely will allow a further consolidation by the few strong scrap companies in the U.S..

Reports from European presenters were not as gloomy.

In a presentation at the joint BIR-ISRI symposium, Allan A. Goldstein, CEO of AMG Resources Corp., Pittsburgh, said a turnaround is not likely "in the foreseeable future.Don't look for relief for the balance of 2001."

Goldstein noted that the industry has always been cyclical, but that the extended good times of the 1990s caused business decision makers from auto producers through steelmakers to scrap dealers to make plans as though the economy would continually grow.Wall Street poured money into the scrap business, but retreated from the market as prices declined, he remarked.

"The shakeout and restructuring in the U.S. scrap industry will continue as the banks-which as a result of bankruptcies now [control many of] the consolidated scrap companies-exit their investments," Goldstein stated.

Allan GoldsteinChief Executive Officer & President
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Allan Goldstein began his career as an attorney in 1974 at the New Jersey law firm of Shanley & Fisher, where he specialized in mergers and acquisitions.He left Shanley & Fisher in 1976 to join Sobel & Lyon, where he was elected partner.In 1982, Allan founded the firm of Goldstein & Lyon in Florham Park, N.J.

In 1988, Allan led a buy-out of Vulcan Materials Co.'s detinning division and assumed the positions of chief executive officer & president of AMG.Under Allan's leadership, AMG has grown into one of the largest scrap processors and scrap brokers in the United States.