Appliance Recycling Centers of America, Inc. to Open ApplianceSmart Retail Store in Eden Prairie, Minnesota
Ninth ApplianceSmart in Minnesota and Twenty-First Store Nationally
MINNEAPOLIS, Feb. 23, 2012 /PRNewswire/ -- Appliance Recycling Centers of America, Inc. (NASDAQ: ARCI) today reported that the company has leased space to open an ApplianceSmart retail store in Eden Prairie, Minnesota. The 28,000-square-foot location at 14675 Martin Drive is northwest of the intersection of Highway 5 and Mitchell Road. The Eden Prairie store will be the ninth ApplianceSmart in Minnesota and the twenty-first ApplianceSmart store nationally.
Edward R. (Jack) Cameron, President and Chief Executive Officer, commented, 'We are excited to expand our presence in the Twin Cities metro area with our new Eden Prairie ApplianceSmart store. This store, which is in a prime location with dense traffic patterns and high visibility to commuters and shoppers, supports our strategy to penetrate existing markets to leverage economies of scale in advertising and overhead expenses.'
Cameron continued, 'We are proud to continue to provide an attractive option for value-conscious consumers. ApplianceSmart's selection of special-buy major household appliances—including close-outs, factory overruns and discontinued models—as well as the latest in appliance innovation from major manufacturers gives our customers a wide range of options when choosing new appliances.'
ARCA (www.ARCAInc.com), one of the nation's largest recyclers of major household appliances for the energy conservation programs of electric utilities, currently provides services for 250 utilities in the U.S. and Canada. Toxic chemicals and environmentally harmful materials such as ozone-depleting refrigerants, PCBs, mercury and oil are carefully recovered in the decommissioning process for destruction or disposal, preventing them from contaminating soil, air and water resources. The Company is also the exclusive North American distributor for UNTHA Recycling Technology (URT), one of the world's leading manufacturers of technologically advanced refrigerator recycling systems and recycling facilities for electrical household appliances and electronic scrap. Through ApplianceSmart, Inc. (www.appliancesmart.com), ARCA also is one of the nation's leading retailers of special-buy household appliances, primarily those manufactured by General Electric, Electrolux, Whirlpool and Bosch. These special-buy appliances, which include close-outs, factory overruns and discontinued models, typically are not integrated into the manufacturer's normal distribution channel. ApplianceSmart, Inc. sells these new appliances at a discount to full retail, offers a 100% money-back guarantee and provides warranties on parts and labor. As of February 2012, ApplianceSmart Inc. was operating 20 stores: six in the Minneapolis/St. Paul market; one in the Rochester, Minn., market; one in the St. Cloud, Minn., market; four in the Columbus, Ohio, market; six in the Atlanta market; and two in San Antonio, Texas.
This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including statements regarding ARCA's future success. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made, including the risks associated with general economic conditions, competition in the retail and recycling industries and regulatory risks. Other factors that could cause operating and financial results to differ are described in ARCA's periodic reports filed with the Securities and Exchange Commission. Other risks may be detailed from time to time in reports to be filed with the SEC.
SOURCE Appliance Recycling Centers of America, Inc.