Press Release

April 12, 2012

BMG Recycling and Resources LLC merges with HKRR LLC

BMG Recycling and Resources, a metals and electronics recycler based in Richfield, Ohio has merged its operations with HKRR LLC, an Asian based metals recycler to form HBMR Holdings LLC.

BMG Recycling and Resources has four operations: Bay Metal in Richfield, Ohio, Itran Electronics Recycling in Richfield, Ohio, Bay Metal South of Millersville, TN and Low Country Metal in Hardeeville, SC. HKRR has six facilities located in: Chicago, IL Elkhart, IN, Fort Wayne, Indiana, Indianapolis, IN, Memphis, TN, Houston, TX.

BMG Recycling and Resources President and Chairman of the newly formed HBMR Holdings LLC, Manjot Singh, explains the synergies of the merger, "By merging BMG Recycling and Resources with HKRR we are able to build off each other's strength's. BMG Recycling and Resources has the experience in building peddler operations and managing industrial recycling through out North America while HKRR opens up the door to more Asian consumers for the commodities that we are producing."

HKRR Chairman Mr. K S Heng echoed Mr. Singh's sentiments on the merger, "Our merger of operations with BMG Recycling and Resources will help us to build on each other strength's and streamline our operations allowing us to focus on the continued growth of our recycling operations."

The terms of the merger were not disclosed.

Contact Frank Pillari, CFO, Bay Metal for further questions, frank@baymetal.com or 330-659-0900.