SOURCE: NYMET Holdings Inc.

NYMET Holdings Inc.

September 29, 2009 08:00 ET

NYMET Holdings Inc. (NYMH) Announces the Successful Completion of Initial Purchase Order and Receipt of Second Purchase Order From Bayou Steel, Inc.

NEW YORK, NY--(Marketwire - September 29, 2009) - NYMET Holdings Inc. (PINKSHEETS: NYMH) (, an innovative metals and mining company headquartered in Port Jefferson, N.Y., announces that the first 1,000 ton purchase order of ferrous scrap metal has been fully recovered from the Reed Saw Mill Project and been delivered to Bayou Steel. Furthermore, NYMET has received a second purchase order from Bayou Steel.

The initial purchase order between NYMET and Bayou Steel was successfully completed and all ordered material has been delivered to Bayou Steel's La Place facility in nearby Louisiana. NYMET's logistics department organized and concluded the transportation requirements for this transaction, overseeing daily deliveries to the facility. As a direct result of the initial relationship with Bayou Steel, NYMET received a second purchase order for an additional 1,000 tons of ferrous scrap metal. This purchase order negotiation was handled by NYMET's management and was officially finalized on Monday, September 28th, 2009.

NYMET received a substantial increase in the purchase price from Bayou Steel for the second purchase order. This is in direct correlation to the bullish market conditions in the steel market. Market analysts in the steel sector anticipate these bullish conditions to continue through the year-end.

NYMET Senior Vice President, Edward R. Gulmi, stated: "NYMET's overall mission remains focused on the expansion of its sales to larger steel consumers across the world. Furthermore, NYMET aims to align itself with top companies as we target additional acquisition and merger opportunities."


The results described herein cannot be guaranteed. The development of any and all of the subject mining claims stated herein is contingent upon multiple high risk factors that must be successfully dealt with in order to achieve the intended results. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. These expectations and assumptions are subject to risks and uncertainty, which could affect NYMET Holdings' future. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of NYMET Holdings to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. NYMET Holdings undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in NYMET Holdings expectations.

Contact Information