Enviro Sets Up US Company

Enviro establishes US holding company

The Board of Scandinavian Enviro Systems has decided to immediately open a holding company in the USA to facilitate Enviro’s establishment of co-owned recycling plants on the US market.

Scandinavian Enviro to Establish US Holding Company

“Our new strategy means that Enviro wants to become part-owner of plants based on our technology as it provides good revenue opportunities. However, becoming a partner places other requirements on company structures, and it is from this perspective that the decision to establish a holding company in the US market should be seen”, says Thomas Sörensson, CEO Enviro.

 

As recently communicated, Enviro has signed a term sheet with US TreadCraft Carbon LLC regarding the establishment of a jointly owned plant for recycling of end-of-life tyres based on Enviro’s technology. The signing means that the parties agree on the main terms for a plant business such as scope of delivery, construction cost, payment and delivery terms.

 

Based on the term sheet, the parties are now negotiating the terms for a definitive agreement. At the same time, work is also underway to obtain supplementary agreements for the terms of the joint venture and license agreements. All negotiations are conditional on financing, a process that is ongoing in parallel.

 

“The decision to establish a holding company in the US is part of the process of creating the right conditions for final agreements and financing of the facility.”

About the author

Ewan has been editor of Retreading Business since 2006 and of Tyre & Rubber Recycling since the magazine was founded. During this period he has become an expert on the global tyre recycling sector. He has many years' experience as an automotive journalist including a period at Tyres & Accessories.

 

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