MINNEAPOLIS, Sept. 1, 2011 /PRNewswire/ -- Appliance Recycling Centers of America, Inc. (NASDAQ: ARCI) today reported that the company has leased space to open an ApplianceSmart retail store in Waite Park, Minnesota, in the greater St. Cloud area. The company has subleased 24,000-square-feet in the Becker Furniture World building at 261 West Division Street and expects to open the ApplianceSmart location in early November 2011.
Edward R. (Jack) Cameron, President and Chief Executive Officer, commented, "We are excited to enter the greater St. Cloud market with our eighth Minnesota ApplianceSmart store, which will be our twentieth nationwide. This ApplianceSmart store is unique because Becker Furniture World will continue to sell mattresses from the location, giving consumers the added convenience of one-stop shopping for a wide range of major household appliances as well as mattresses for their homes. We believe that St. Cloud area residents will be very receptive to this concept."
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 the wide range of choices they need to suit their homes and satisfy their budgets."
About ARCAARCA ( 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 more than 175 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 its ApplianceSmart operation ( 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 and Whirlpool. 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 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 September 2011, ApplianceSmart was operating 19 stores: six in the Minneapolis/St. Paul market; one in the Rochester, 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.
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