Garb Oil, Power Corp signs LOI to build tire recycling plant in Pennsylvania

Rubber and Wood  |  2011-04-14 08:35:57   |   By Paul Ploumis

Garb Oil & Power Corporation and USA Recycling Industries Inc., have signed an LOI to form a 'joint venture operation in North America, on a 50/50 basis

SALT LAKE CITY (Scrap Monster): Garb Oil & Power Corporation and USA Recycling Industries Inc., have signed an LOI to form a 'joint venture operation in North America, on a 50/50 basis, whereby USA Recycling Industries will provide access to its national contracted commercial customer locations for the purpose of establishing the collection and processing of scrap used tires for recycling, availability of its warehousing facilities and provide access to international consumers of recycled rubber and steel.

Garb is to provide the joint venture operation with technology for its warehousing facility at cost, know-how and expertise in tire recycling.' Agreement and closing date are 'no later than 30 days from the date of the Letter of Intent.' Garb CEO John Rossi stated, 'This arrangement catapults Garb into North America's automotive recycling industry providing direct access to many of America's top auto service center operations.'

USA Recycling Industries CEO Vincent J Smith added, 'The Agreement provides USA Recycling Industries with a joint venture partner that will enhance our specialty recycling programs and provide our customer base with a long-term eco-friendly recycling solution for automotive tires.'

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