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 of tyres. The plant is planned to be established at 1501 College Avenue, Niagara Falls, New York, USA.
MoU Extended by Enviro
“The fact that we have a specified site for the plant is an important step forward. We will now continue to formalise 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.