Key Developments For Appliance Recycling Centers of America Inc
Appliance Recycling Centers of America Inc (ARCI.O) (Consolidated Issue listed on NASDAQ Capital Market)
Appliance Recycling Centers of America, Inc. Completes Sale And Leaseback Of Minneapolis Corporate Office Building
Appliance Recycling Centers of America, Inc. announced that it has completed the sale and leaseback of its Minneapolis corporate office building. The sale of the building provided approximately $2 million in cash to the Company after repayment of the mortgage. As part of the transaction, ARCA agreed to lease back the entire building for a period of five years.
Appliance Recycling Centers of America, Inc. Enters Into Sales/Leaseback Agreement For Minneapolis Headquarters Building
Appliance Recycling Centers of America, Inc. announced that it has signed an agreement to sell and lease back its Minneapolis corporate office building. The sale of the building is contingent on the purchaser obtaining necessary financing. Both parties anticipate the closing of the sale on or before October 12, 2009. As part of the sale, the Company will lease back the building for a period of five years. The sale of the building will provide approximately $2 million in cash to the Company after repayment of the mortgage.
Appliance Recycling Centers of America, Inc. Enters Into Joint Venture to Provide Refrigerator Recycling Services in Mexico
Appliance Recycling Centers of America, Inc. announced that through a joint venture with a Mexican corporation, Diagnostico y Administracion de Logistica Inversa SA de CV (DALI), it will provide refrigerator recycling services for more than 160 appliance retailers and manufacturers participating in a refrigerator replacement program sponsored by the Mexican government.
Appliance Recycling Centers of America, Inc. Announces Contract By Xcel Energy
Appliance Recycling Centers of America, Inc. announced that it has been awarded a contract by Xcel Energy to provide refrigerator recycling services for the utility's residential electric customers in Colorado and New Mexico. The program is scheduled to begin on June 1, 2009 and run through December 31, 2010.
Appliance Recycling Centers of America, Inc. Announces Filing Of Appeal
Appliance Recycling Centers of America, Inc. (ARCA) announced that it has filed an appeal with the Ninth Circuit Court of Appeals in California seeking to have the court set aside the summary judgment handed down in January in its litigation with JACO Environmental, Inc and two individuals. ARCA believes that the decision by the trial judge was in error and contrary to the law relating to unfair competition and false advertising. ARCA believes it is entitled to its day in court against JACO for damages caused by its actions even though JACO has promised not to sue ARCA or its customers on the disputed patent that is at the heart of the litigation. ARCA expects that a decision on the appeal will be handed down in late 2009 or early 2010.
