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't <br /> boliden metech, Inc. <br /> P.O. Box 500 • 1 Main Street • Mapleville, Rhode Island 02839 • Phone: (401)568-0711 • Intl Telex:6814037 <br /> January 24, 1986 <br /> Mr. Jerry Hammes <br /> President <br /> FEB 2 6 1986 <br /> South Bend Economic Development Commission <br /> 401 East Colfax Avenue <br /> P.O. Box 1677 IRENE GAMMON' <br /> ON', <br /> Southbend, Indiana . 46634-1677 CLERK, SO, BFI`"' <br /> Re: Assignment of Series B <br /> Bond of STC Recycling, Inc. <br /> Dated: August 29, 1983 <br /> Dear Mr. Hammes: <br /> As Vice President and Treasurer of Boliden Metech, Inc. , I am <br /> requesting that the South Bend Economic Development Commission grant <br /> Boliden Metech, Inc. 's Application for an assignment of the <br /> above-captioned bond. In order to establish an historical background to <br /> this request, I offer the following summary: <br /> STC Recycling, Inc. (STC) , a Deleware corporation, was the <br /> successful user of the above-noted bond. This bond was approved and <br /> issued on August 29, 1983 by the City of South Bend. STC operated a <br /> precious metals reclamation facility in St. Joseph's County for <br /> approximately one year. Although the bond is current, the facility <br /> operated by STC is idle and has no employment. <br /> Boliden Metech, Inc. (Boliden) , a Delaware corporation, has <br /> operating facilities in Providence, Rhode Island and Gilroy, California. <br /> Boliden has purchased 100% of the stock of STC Recycling, Inc. and intends <br /> to merge STC into Boliden with Boliden as the surviving entity. Boliden <br /> will reopen the South Bend facility and operate it in essentially the same <br /> manner as STC. Additionally, Boliden currently anticipates employing <br /> approximately 20 individuals with a payroll budget of $400,000.00. <br /> i <br />