IMCO Recycling Inc. stockholders have approved the company's proposed merger with Commonwealth Industries Inc.
The votes were cast at a special stockholders meeting Dec. 8. More than 10.9 million shares, 96 percent of the shares voted, approved the common stock issuance in connection with the merger. The companies intend to close the merger and related financing transactions today.
IMCO says that the other proposals before the stockholders -- an
amendment to its charter to increase the number of its authorized shares, an
equity compensation plan and an annual incentive compensation plan -- were
also approved.
IMCO Recycling Inc., headquartered in Irving, Texas, is one of the world's largest recyclers of aluminum and zinc. The company has 20 U.S. production plants and two plants in Wales and one each in Brazil, Germany and Mexico.
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