Resource Exchange of America Adds Asset Recovery Division

Resource Exchange of America Corp., based in Florida, has formed a new subsidiary, Asset Recovery of America LLC (ARA) to serve as the company's demolition and dismantling division. The company also announced that ARA signed a joint venture agreement with Harry's Hauling LLC, an asset recovery company located in Orlando, Fla.

The company notes that the addition of an asset recovery division will provide the company with an essential element to RXAC's strategy to aggregate all aspects of the fragmented recycling industry into a vertically integrated business addressing a huge international and national market.

The joint venture with HHL includes an asset recovery project in Orlando valued at $190,000. The JV will provide RXAC with the ferrous and non-ferrous metals being removed from the project, which ARA will process and resell.

"This agreement not only launches our asset recovery division and secures a pipeline of scrap metals for our metals processing division; it also gives RXAC a direct presence in Orlando, which is the premier business center in Florida," says Dana Pekas, CEO of RXAC.

"We are very pleased to partner with Jason Livingston, President of Harry's Hauling, LLC. Jason has 13 years of experience in the demolition industry and is a licensed certified general contractor and a licensed asbestos abatement supervisor/contractor. We appreciate his expertise and look forward to a continuing relationship with him and HHL on other projects in Orlando," Pekas adds.