United States – Electronic Recyclers Inc. (ERI), which runs recycling operations in seven US states, has plans to expand into India, Brazil and the United Arab Emirates (UAE) as early as next year.
John Shegerian, ERI’s Chairman and CEO, told trade publication American Metal Market that the company’s international expansion plans should be announced this year pending successful negotiations. With a goal to increase sales to US$ 1 billion by 2020, he anticipates revenues of up to US$ 65 million this year.
‘The bottom line is our clients want us to be where they are,’ he told AMM. ‘We got calls to open in India, Brazil, UAE and Saudi Arabia. I’m talking to different regions of the world – China, Canada, Europe – that want to bring the ERI brand and technology there. That’s how we’ll grow.’
ERI opened its seventh electronics recycling centre in the USA this May, with the new facility in South Carolina joining those in Fresno, Washington, Colorado, Indianapolis, Massachusetts and Texas. Two months earlier, aluminium giant Alcoa had announced a US$ 10 million investment in ERI for a 10% equity stake. And in November last year, South Korean copper smelter LS-Nikko extended its year-old partnership and increased its minority investment position with ERI in a deal said to be worth millions of dollars.
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