GREENMAN COMPLETES SALE OF GEORGIA OPERATING ASSETS
GreenMan Technologies Inc. of Lynnfield, Mass., has sold its Georgia operating assets to two companies for a total of $405,000.
Tires Into Recycled Energy and Supplies Inc. (TIRES), based in Winston Salem, N.C., has purchased from GreenMan: truck tire processing equipment from its Georgia facility; rights and interests in its contracts with suppliers of scrap truck tires; and intangible assets, according to a press release from GreenMan. The company received $155,000 from the sale. TIRES also agreed to terminate previous material supply and equipment lease agreements between the parties.
MTR of Georgia Inc. has purchased from GreenMan: passenger tire processing equipment located at its Georgia facility; rights and interests in its contracts with suppliers of scrap passenger tires; and intangible assets. GreenMan received $250,000 from the sale, and MTR has agreed to assume financial responsibility for disposing of all scrap tires and scrap tire processing residual at the Georgia facility as of the close.
GreenMan also agreed with TIRES and MTR not to compete in the business of providing whole tire waste disposal services or selling crumb rubber material (except to existing GreenMan customers) within certain Southeastern states for a period of three years. In addition, both parties entered into a sublease agreement with GreenMan with respect to part of the Georgia premises.
STUDY ASSESSES THE UK NONMETALLICS RECYCLING MARKET
Dublin-based Research and Markets has added Non-Metal Recycling Market Report 2005 to its offering of studies.
In 2005, the UK market for nonmetallics recycling was worth an estimated £855 million (roughly $1.5 billion), which represents a 25 percent increase from 2004’s figure, according to Research and Markets.
Despite this growth, nonmetallics recycling faces several challenges in the UK, according to the study from Research and Markets.
The report offers analysis of sectors such as paper and board and glass and plastics and provides additional information on the recycling of electrical and electronic scrap and end-of-life vehicles. The report also examines recycling in the municipal sector, where the collection of segregated material streams for recycling is being introduced on a wide scale, according to the Irish market research firm.
The report finds that the UK market for nonmetallics recycling will grow as legislation tightens in two directions: restrictions on landfill (with punitive taxes) and stipulations as to how specific materials should be recycled. "This legislation will need to be accompanied by the licensing of recyclers, greater producer responsibility and the willingness of equipment users to ensure that discarded products are recycled through the proper channels," according to Research and Markets.
More information on Non-Metal Recycling Market Report 2005 is available at www.researchandmarkets.com/reports/c34920.
Explore the May 2006 Issue
Check out more from this issue and find your next story to read.
Latest from Recycling Today
- ReElement, Posco partner to develop rare earth, magnet supply chain
- Comau to take part in EU’s Reinforce project
- Sustainable packaging: How do we get there?
- ReMA accepts Lifetime Achievement nominations
- ExxonMobil will add to chemical recycling capacity
- ESAB unveils new cutting torch models
- Celsa UK assets sold to Czech investment fund
- EPA releases ‘National Strategy to Prevent Plastic Pollution’
