USA – Garb Oil & Power Corporation and USA Recycling Industries have signed a letter of intent to form a 50:50 joint venture operation in North America.
USA Recycling will provide access to its national contracted commercial customer locations, including warehousing, to allow facilities to be set up for collecting and processing of used tyres. The company will also provide access to international consumers of recycled rubber and steel.
Garb is to provide the JV with at-cost technology and expertise in tire recycling, the companies said in a statement. Garb CEO John Rossi said the agreement would be finalised within 30 days. ‘This arrangement catapults Garb into North America’s automotive recycling industry providing direct access to many of America’s top auto service centre operations,’ he said.
Vincent Smith, CEO of USA Recycling, added: ‘The agreement provides USA Recycling Industries with a joint venture partner that will enhance our speciality recycling programmes and provide our customer base with a long-term recycling solution for automotive tyres.’ Garb Oil & Power operates plants for rubber and e-waste recycling as well as waste-to-energy processing facilities, based on closed-cycle, zero residue principles.