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Financial In Market by Armando Duke

Storage of waste tires is a challenge to tire recyclers. In addition to littering our landscapes they present a fire hazard and, because they provide a breeding place for insects and rodents, a health hazard as well.

Oriental Trading Tire recycler, GreenMan Technologies, Inc., brought its state-of-the-art Georgia recycling plant back online this week after a fire forced its closure last year. The new plant increased capacity 28%.

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Trading Dec 2, 2004 (AXcess News) Lynnfield MA - Nationwide tire recycler, GreenMan Technologies, Inc. (AMEX: GRN), announced Monday that it brought its Georgia tire recycling plant back online, adding 20 million pounds of production capacity in one of its best markets.The plant had been down since a fire destroyed its shredding equipment in March 2003. At the time, GreenMan had just built the plant which was designed to handle a growing southeast market.

Shares of Paid closed Thursday at $0.275, up 6 cents, or nearly 28 percent, on very heavy trading volume.

Trading Financial System The fire forced the company to transport tires at a cost of $500,000 while revenues from lower production chewed into the company's bottom line, putting GreenMan in the red.

Day Trading The company said that the new plant would save the $500,000 in hauling costs it was incurring and potentially add another $1 million in sales from the crumb rubber produced. But those comments laid out in the November 29 press release were downplayed.

Forex Financial Trading The GreenMan was already at 50 million pounds of crumb rubber capacity and the Georgia plant would add another 20 million pounds, bringing total capacity to 70 million pound of crumb rubber, or an increase of 28.5%.

Fortune Make Option Trading Net sales for the three months ended June 30, 2004 were $8,059,103, a 13% increase, compared to last year's net sales Advertisement

Science Of Financial Market of $7,159,221. The increase was primarily attributable to a 17% increase in inbound tire volumes and a 15% increase in overall product revenues.

Future Trading GreenMan recorded an operating profit of $254,023 for the quarter as compared to an operating loss of $353,559 for the same period last year. Though it recorded a loss of 2 cents a share compared to 6 cents for that period last year, which was the first quarter reflecting the forced closure of its Georgia plant following the fire in March 2003.

Financial Sales Services Costs were also reduced 65% in the latest period relating to financing charges that were written off in the June 30 2004 period ending.

Commodity Trading The $500,000 the corporation will save in transportation costs coupled with its one-time charge for financing in the last quarter should bring GreenMan bank into the black. Though its southeast market should add to sales growth and bottom line results.

Financial Services Trading GreenMan Technologies closed Wednesday at $1.54, up 1 cent on 19,200 shares, which is trading nearer to its 52-week high of $1.67. If the market looks long on its market price, next year it could range up into its $2 to $2.50 range that GreenMan traded at before the fire occurred. At that time the company was on an acquisition spree, having absorbed four tire recycling businesses successfully before the Georgia plant's closure and its bank going under at the same time stopped that growth.GreenMan Technologies is the only publicly held nationwide tire recycler in the United States. AXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking news. If you're not a member, consider joining now. Members get the latest business news, commentaries and stock picks delivered right to their in-box.

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