Tomra Systems ASA and Sumitomo Corporation have signed an agreement to form a 50/50 Joint Venture in Japan. The establishment of this Joint Venture is a formalization of the cooperation between Tomra and Sumitomo since 2004. The purpose of the new Joint Venture is to further develop the market for automated collection of beverage containers in Japan with the use of Tomra's technology solutions.

 

Japan has among the highest recycling rates in the world for beverage containers without deposit legislation. The current manual collection systems are expensive to operate for Japanese municipalities and through use of Tomra's collection solutions cost reductions of 40-55% are achievable. Tomra currently has app. 200 machines in operation in Japan.

 

For more information please contact SVP Business development Trond K. Johannessen (+47 91 59 66 88) or CFO Espen Gundersen (+47 97 68 73 01)

 

 

Asker, 24 June 2008