Michigan-based flat-panel display processor files for bankruptcy

DETROIT (Scrap Monster):  Michigan-based 3S International, LLC has temporarily suspended its daily operations at two of its facilities. The operations at the Tinley Park, Illinois and Taylor, Michigan facilities have been closed effective July 31^st. Further the company has filed for protection under Chapter 11 on August 6^th. The company plans to reorganize itself so as to remain competitive in the market.

The statement issued by Joe Yob, CEO, #S International states that the suspension of operations will allow it to strategically reposition itself in order to better meet the rising demand for recycling of flat panel displays and other mercury containing electronic devices.

Meantime, 3S stated that it continues to maintain its exclusivity of BLUBOX- the fully automated and state-of-the-art system that extracts hazardous materials from electronic devices that are further processed and recycled. The company looks forward to continue its existing partnerships and is in efforts to expand its reach to new markets by entering into new partnerships, Joe Yob added.

The bankruptcy filing indicates that 3S has assets ranging from $1 million to $10 million, whereas the company owes $10 million to $50 million. It owes nearly $500,000 for purchase of three automated shredding machines. Also, it owes around $1.1 million in total to nearly 19 creditors. This includes pending rent and wages payment of temporary workers hired through external agency.

Founded by globally recognized electronics recycling experts, 3S International operates the only fully-automated mercury extraction and LCD processing technology in North America.