Jul 28 2010
NYMET Holdings Inc. (PINKSHEETS: NYMH), an innovative metals and commodities trade company, headquartered in Port Jefferson, N.Y., today announced the successful acquisition of NYMET Resources and Mining as a wholly owned subsidiary.
NYMET Holdings Inc. is proud to announce the successful acquisition of NYMET Resources & Mining, Corp. Founder Mr. Edward R. Gulmi stated, "The resources and mining subsidiary primary focus is the supply of raw material associated with steel production. The company is in the process of developing a raw material supply chain in South America, India, and Indonesia. Currently this division is negotiating long term supply contracts for Iron Ore and other raw materials such as Coking Coal specifically targeted for our Steel Mill customers consumption."
T. Benjamin Jennings stated, "This strategic acquisition complements NYMET's long term plan and will enable NYMET to further expand and service the steel mills raw material requirements. I am very excited about this recent development as it will certainly boost shareholder value."