Dynamic Recycling Reaches Agreement to Buy Assets of Bankrupt ECS Refining

The sale of the above assets is subject to final approval by the U.S. Bankruptcy Court Judge of Eastern District of California.

SEATTLE (Scrap Monster): Dynamic Recycling-a full service electronic waste recycler with locations in Onalaska, WI and Nashville, TN has reached an agreement to buy certain assets of the bankrupt Santa Clara-headquartered ECS Refining, Inc.

According to the deal, Dynamic Recycling has agreed to purchase ECS’s business name and websites, customer and vendor database, software access rights and equipment inventories at Stockton, Mesquite and Columbus sites. The sale of the above assets is subject to final approval by the U.S. Bankruptcy Court Judge of Eastern District of California. The deal is valued at $160,000, out of which Dynamic Recycling has already deposited $40,000 with the trustee. In addition, the company has agreed to pay $30,000 in return for a deal with Comcast and couple of other ECS’s top customers within a period of 45 days.

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Other e-scrap companies too have expressed interest in purchasing the assets of ECS. For instance, Regency Technologies- a nation-wide e-scrap processor and part of Ohio-based Reserve Management Group (RMG) had recently announced that it is a potential buyer of ECS assets.

Meanwhile, the California Department of Toxic Substances Control (DTSC) has ordered that any cleanup of its sites in the State requires its approval. As per estimates, the ECS sites contain substantial amounts of electronics waste, some of which are even hazardous.

Earlier, the U.S. Bankruptcy Court Judge Robert Bardwil had ordered ECS Refining to sell its assets and close down, resulting in elimination of around 300 jobs. In April this year, the company had filed for Chapter 11 bankruptcy before the U.S. Bankruptcy Court for the Eastern District of California, after which the company was run by W. Donald Gieseke-the bankruptcy trustee. All attempts of the court-appointed trustee to sell ECS Refining as an intact, operating company had ended without success.

This story originally appeared in www.resource-recycling.com

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