Appliance Recycling Centers of America, Inc., incorporated on June 27, 1983, is engaged in the business of selling and recycling household appliances in North America. The Company has two segments: recycling and retail. The Company sells household appliances in the United States though its chain of Company-owned retail stores, operating under the name ApplianceSmart. ApplianceSmart operates 18 stores, which include six in the Minneapolis/St. Paul market; a store in Rochester, Minnesota; a store in St. Cloud, Minnesota; four in the Columbus, Ohio market; four in the Atlanta, Georgia market, and two in the San Antonio, Texas market. Its recycling segment focuses on collecting, recycling and installing appliances for utilities and other customers. Its recycling segment also focuses on the agreement with General Electric (GE). GE sells its recyclable appliances in certain regions of the United States to the Company, and the Company collects, processes and recycles the appliances. These appliances include units manufactured by GE, as well as by other manufacturers. The Company's retail segment focuses on the sale of appliances through ApplianceSmart stores. ...
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