Soave Enterprises Affiliate Reaches into Southeastern Market

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Ferrous Processing & Trading (FPT) of Soave Enterprises devises strategy to service migrating automotive operations in the South.

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Our expertise and track record with the 'Big Three' give us credibility with other automakers in need of scrap metal services

With the geographic migration of many automotive operations from their traditional base in the Midwest to warmer climates, maintaining long-term growth requires devising a strategy to service these southern transplants. After 18 months of planning, Ferrous Processing & Trading (FPT) has done just that. FPT is an affiliate of Soave Enterprises which was founded by Anthony Soave.

"Ferrous Processing is proud to establish a new business platform in the southeast region," announced Howard Sherman, FPT's CEO and President. "Account Executive Bill Sulak's full-time responsibilities have been transferred to oversee Nissan and related accounts in Tennessee."

Nissan operates three plants in the southeastern U.S. region: stamping and assembly plants in Smyrna, Tennessee and Canton, Mississippi, and a powertrain facility in Decherd, Tennessee.

"Our expertise and track record with the 'Big Three' give us credibility with other automakers in need of scrap metal services," explains Sherman. "Instead of having to accept less experienced, locally-based vendors, FPT will offer facilities throughout the region the industry's best practices." FPT's Executive VP of Operations Tony Benacquisto noted, "This is a great foothold on which to build our growth in the southeastern U.S. scrap markets. We're looking to pick up more business from Nissan's stamping suppliers in the region; plus add operations and processing capacity in Tennessee and Alabama."

Scrap metal prices reached a historical, all-time high in April. "Strong markets are expected continue into the second quarter of 2008," reported Rob Bakotich, VP of Sales and Marketing for FPT. "By adding this new platform to our previously established Florida and Midwest operations, we will be able to better serve our mid-south mill customers during a key period."

Soave Enterprises, founded by Anthony Soave, entered the metals recycling business in 1997 with its investment in Ferrous Processing and Trading. Ferrous Processing and Trading was recently ranked 11th in the 20 Largest Multi-National Scrap Recyclers by Recycling Today.

About Soave Enterprises
Soave Enterprises is a diversified management and investment company founded by Detroit businessman Anthony Soave that provides strategic planning, financial and other management resources to its affiliated business ventures in the real estate, automotive retailing, beer distribution, scrap metal, industrial services and transportation industries, among others. For more information on Tony Soave and Soave Enterprises, please visit http://www.Soave.com.

Contact:
Emile Mahanti, Sr. V.P.
Marx Layne and Company
31420 Northwestern Hwy.
Suite 100
Farmington Hills, MI 48334
(248) 855-6777

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