Enviro and Treadcraft extend MoU by six months – includes specified plant site and Joint Venture
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 and Treadcraft Limited extend the MoU that was signed on June 29th, 2018 by six months. The parties intend to establish a Joint Venture for co-ownership of a recycling plant with an annual capacity of 30,000 tonnes tyres. The plant is planned to be established at 1501 College Avenue, Niagara Falls, New York, USA.
“The fact that we have a specified site for the plant is an important step forward. We will now continue to formalize the terms and conditions of the project. Within the next six months, legal, financial and license issues will be clarified, and a plant order will be established. Joint ownership is in line with Enviro's new business model and it means that we will benefit from the returns that will be generated by a plant” says Thomas Sörensson, CEO of Enviro.
The contracting party Treadcraft Limited, located in Wainfleet, Ontario, Canada, was incorporated in 2007, and is today active on the North American market.
For more information, please contact:
Thomas Sörensson, CEO Enviro, +46 (0)735-10 53 43, firstname.lastname@example.org
Urban Folcker, CFO Enviro, +46 (0)760-00 13 11, email@example.com
Alf Blomqvist, Board Chairman Enviro, +46 733 149 700, firstname.lastname@example.org
Mangold Fondkommission AB, +46 8 503 01 550, is Enviro’s Certified Advisor at Nasdaq First North Stockholm.
Scandinavian Enviro Systems AB (publ) is required to publish this information under the EU market abuse regulation. The information is provided by the contact person listed above for publication on December 28th, 2018, at 11:10 CET.