Ferrous Processing and Trading Scrap Metal Recycling

1. Ferrous Processing & Trading Co. Company Overview

2. Company Overview • One of North America’s leading providers of scrap recovery processes and scrap-derived raw materials for the metal industries. • Full range of ferrous/non-ferrous processing capabilities. • Shredder, baler, granular, briquettes, shear, and torching/sorting services. • Rated by Recycling Today as one of the top ten scrap metal recyclers in the United States. • Focused on quality and operational efficiency. • Most facilities are registered ISO 9000:2000 certified suppliers. • FPT has also assisted larger industrial plants in their achievement of ISO 14000. • Use of innovative technology and state of the art equipment ensures seamless execution. • Strategic alliances enhance service offering. • Dominant market share in Midwestern United States. • Complemented by strong competitive positioning in the Miami, Florida market. • Diverse supplier base, including local business owners, scrap yards, OEMs, stamping facilities, and automotive suppliers. Company Overview

3. Company History • 1904 Sam Allen & Sons (later TBS Recycling) founded in Pontiac, Michigan. • 1914 Zalev Brothers established in Sarnia, Ontario, to collect and recycle rags, paper and metals. Relocates in 1925 to Windsor, Ontario, and develops into the largest integrated scrap processing operation in Canada. • 1933 Zalev Brothers begins automation of scrap processing in the region with the first powered guillotine shear for cutting scrap into furnace-sized-pieces. • 1936 Nate Schlafer, Schlafer Iron & Steel, installs the first high compression scrap steel baler in southeast Michigan to supply the open-hearth steelmakers. • 1942 Detroit-area scrap processors initiate massive scrap iron collection efforts in support of wartime steel production. • 1958 Alport Iron & Steel develops process for incineration, then crushing and shearing of scrapped automobiles to allow remelting in steelmaking furnaces. • 1963 Zalev, and later Alport, install some of the earliest equipment for bonding iron borings and turnings into remeltable briquettes through rotary kiln heating and roll-forming. • 1986 Ferrous Processing installs world's first Super Heavy Duty Shredder, enabling the processing of lower residual (higher quality) scrap items to broaden scrap supply and improve product quality. • 1987 Zalev Brothers achieves Ford's first Q-1 Award for full-service scrap supply and becomes the first Q-1 supplier in Canada. • 1988 Ferrous Processing begins development of the largest high-quality nuggetized furnace, ladle and tundish additive production facility in North America and becomes the largest supplier of these important steel production materials. • 1995 Zalev and Ferrous Processing are pioneers in the United States and Canadian scrap industries by earning ISO 9001 and QS 9000 certification. • 1996 Construction begins for Strong Steel Products near downtown Detroit, a greenfield recycling facility, including one of the world's largest and most powerful mega-shredders. • 1997 Ferrous Processing acquires TBS Recycling, Schlafer Iron & Steel, Mason I&M and Metal Alloys Corp., all located in southeastern Michigan. • 1998 Ferrous Processing acquires Zalev Brothers Limited, including SLC Recycling Industries, becoming the largest ferrous and non-ferrous metals recycler in Michigan and southwestern Ontario. • 1999 Ferrous Processing acquires the assets of Atlas Iron & Metal, including processing operations in Cleveland, Ohio, and Miami, Florida. • 2000 SLC Recycling completes construction of the world's first completely automated non-ferrous metals processing facility in Warren, Michigan, including mass shredding, sizing, eddy-current separation and dry media separation. • 2005 Opening of First Parts Galore yard in Detroit MI. • 2006 Acquisition of M. Weingold & Co. • 2008 Started large contract at largest GM stamping plant in world Company Overview

4. Primary Operations Ferrous Operations • Purchases ferrous scrap directly from dealers, car crushers, salvage operators and industrial scrap producers pursuant to long-standing relationships • Also purchases materials from peddlers, and auto wreckers who deliver directly to FPT’s processing facilities • Ability to consistently supply the required volumes of quality scrap makes FPT the supplier of choice in the regions it serves • Sells processed ferrous scrap to end-users such as steel producing mini-mills and integrated steel makers and foundries Non-Ferrous Operations • Non-ferrous metals are purchased from industrial accounts and over the scale at the operating yards • FPT operates a full-service, non-ferrous scrap metal processing facility, which is the first non-ferrous facility to integrate a high-capacity shredder, an optical sorter, and dry system separators with sand flotation • FPT purchases, sorts, processes, shreds and packages aluminum, brass, copper, tool steels, stainless steel, and high temperature alloys Retail Used Auto Parts • Operates two self-service, used auto-parts retail outlets on two 20-acre locations in the Detroit area • The Company purchases end-of-life vehicles from charitable organizations and others removing automotive fluids, mercury switches, and Chlorofluorocarbons before allowing customers to remove and purchase salvageable parts • Once the vehicles have been stripped of all usable parts, they are transferred to FPT’s scrap yards to be shredded and recycled Mill Services and Other On-site Operations • Established on-site presence at customers’ mills and supplier locations to perform a variety of value-added services • Scrap processing and management, inventory control, scrap blending and optimization

5. FPT at a Glance Ferrous Processing & Trading Facilities • Ferrous Processing & Trading Company (“FPT” or the “Company”) is one of the largest remaining independently owned ferrous and non-ferrous scrap processing companies in North America • FPT collects and processes industrial and obsolete scrap metal into reusable forms, and sells recycled scrap metals to electric-arc furnace mills, integrated steel mills, foundries, secondary smelters, and brokers • Operations include a full range of ferrous and non-ferrous processing capabilities including shredder, baler, briquettes, shear, torching, and sorting services • Headquartered in Detroit, Michigan, the Company maintains a leading market share position servicing mills and suppliers in nine states and Ontario, Canada • FPT and its predecessor companies have been in operation since 1904 and have established well-respected franchises through long-term blue-chip customer relationships and a diversified supplier base • Key operating metrics: • Gross tons of approximately 3.0 million in 2008 and 2.1 million in 2009 (ferrous) • Five-year average of 2.7 million gross tons • Non-ferrous metal of approximately 233 million lbs in 2008 and 198 million lbs in 2009 • Five-year average of 205 million lbs Shaded regions indicate U.S. States / Canadian Provinces where FPT operates facilities 2009 Products by Tons Sold Total Gross Tons: 2.2 million