TOMRA expands into California
TOMRA has signed a letter of intent with Wise Recycling LLC to acquire the company`s west-coast operations which consist of activities in California and the four non-deposit states Colorado, Washington, New Mexico and Hawaii with revenues in 1997 of USD 40 million. Today, TOMRA has no activities in California, which is the largest US deposit state. Currently, collection of used beverage containers is handled through an established structure of manual collection- and recycling centers as opposed to through reverse vending machines in other deposit states. The present structure provides relatively modest operating margins.
Asker, 16 February 1998