February 8, 2007, Detroit, Michigan – Detroit-based Ferrous Processing & Trading (FPT) has recently completed an agreement with DaimlerChrysler to handle the recycling of scrap plastics at five Chrysler Division assembly plants in southeastern Michigan and Ontario.

“As part of our spectrum of services we offer to clients, FPT has expanded from our core job of scrap handling to also encompassing plastic recycling at DiamlerChrysler’s assembly plants,” said A.G. “Chip” Hering, FPT’s Executive Vice President. “We will apply the same business model to this endeavor as our scrap recovery processes.”

This business arrangement by FPT, a member of the Soave Enterprises family of diversified holdings, will provide for the recycling of scrapped plastic auto components and packaging materials generated in the assembly process, while also ensuring their mutilation and destruction.

Ferrous Processing & Trading is an affiliate of Soave Enterprises, L.L.C., www.soave.com. Soave Enterprises is a diversified management and investment company founded by Detroit businessman Anthony L. Soave that provides strategic planning, financial and other management resources to its affiliated business ventures in the real estate, automotive retailing, beer distribution, scrap metal, industrial services and transportation industries, among others. Recently, Forbes Magazine ranked Soave Enterprises as the 192nd largest privately held company in the United States.