Extended MoUs in China and Chile
N.B. The English text is an in-house translation of the original Swedish text. Should there be any disparities between the Swedish and the English text, the Swedish text shall prevail.
Scandinavian Enviro Systems (publ) extends the Memorandums of understanding (MoU) with Chinese tyre manufacturer Guangzhou Vanlead Group Co. Ltd, and Chilean investor Genera4 S.A.
“This means that the work with establishing recycling plants in both countries continues. Our joint ambition to establish a plant in Guangzhou with project launch in 2017 remains,” says Thomas Sörensson, CEO of Enviro.
The MoU with Vanlead, signed on March 29th, is extended to meet the state-owned company’s procurement process. At the same time, the cooperation between the two parties continues at an unchanged rate.
“Together we have decided on the location of the plant and conducted detailed discussions on site.”
Enviro has had continued contact with the Chilean market for several years and the MoU with Genera4 S.A. was signed on November 10th, 2016. Enviro’s recycled carbon black is industrially accepted and has been tested by several Chilean rubber manufacturers as well as international tyre producers.
“Chile’s new Recycling and Extended Producer Liability Law means that the need for our type of solution is increasing for both tyre producers, mining companies and the authorities. The extension with Genera4 S.A. is an expected part of our continued cooperation to establish a recycling plant in the country,” says Thomas Sörensson.
The extension of respective MoU is three months with the possibility for further extensions if necessary.
For more information, please contact:
Thomas Sörensson, CEO, Tel.: +46 (0)735-10 53 43, email@example.com
Stig-Arne Blom, Board Chairman, Tel.: +46 (0)705-25 16 15, firstname.lastname@example.org
This information is information that Scandinavian Enviro Systems AB (publ) is required to publish under the EU regulation on market abuse. The information is provided under the auspices of the contact person listed above for publication on August 9th, 2017 at 14.00 CET.
Enviro is an environmental company that offers profitable recovery of tyres and processed materials primarily to the rubber industry. The company sells turn-key environmental facilities to industrial investors and also operate their own plant for end-of-service tyres in Åsensbruk, Sweden. Enviro, headquartered in Gothenburg, was founded in 2001, has 20 employees, and is listed on the Nasdaq First North securities exchange with Mangold Fondkommission AB, tel. +46 (0)8 5030 1550, as its Certified Advisor. https://www.envirosystems.se/en/