SEATTLE (Scrap Monster): Tokyo, Japan-based JX Nippon Mining & Metals Corp. has announced acquisition of eCycle Solutions Inc. based in Mississauga, Ontario from Montreal-based Horizon Capital Holdings. The Japanese metals firm has acquired all the shares of the electronics recycling company. Established in 2005, eCycle Solutions employs approximately 250 people.
Commenting on its entry into the North American e-waste recycling market, JX Nippon Mining & Metals Corp. noted that the acquisition is part of the company strategy to make its metals and recycling operations more competitive. The “green-hybrid smelting” technology has helped JX to boost collection and processing of increased volumes of recycled materials, said the company.
The acquisition of eCycle will ensure that the company can continue to procure recycled materials reliably over the long term. Together with eCycle, it aims to create a recycling supply chain with manufacturers of electric and electronic devices, utilizing eCycle's network to collect even more recycled materials from North America.
eCycle is considered as Canada’s largest e-waste recycler in terms of market share. It has a total of eight operating sites and a strong collection network. It collects and processes discarded household appliances and other electronic devices.