China Shengda Packaging Group Inc., a Chinese paper company, has signed a Letter of Intent to purchase the land use rights for a 166,533 square meter plot of land in Yancheng City, China for $11.4 million in order to build a paper manufacturing plant. China Shengda Packaging plans to build the new plant in two phases. The first phase, which is expected to be completed by the end of 2011, will entail the construction of 100,000-150,000 metric tons per year of paper capacity and is expected to require capital expenditures of $34.2 million, including the cost of acquiring the land use rights.
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Chinese Paper Company Announces Plan to Build Paper Mill
USA Recycling Industries Inc., based in Reading, Pa., has signed a letter of intent to acquire a 51 percent interest in Earth Metal Scrap USA Inc., a New York-based exporting firm with facilities in India and Dubai. USA Recycling, formerly known as Voyager Petroleum Inc., is a scrap metals recycler servicing the automotive service center chain store industry. In an announcement, USA Recycling says that it expects to close the deal “no later than 14 days from the date of the Letter of Intent.” As for taking a majority stake in Earth Metals, Vincent Smith, USA Recycling’s CEO, says, “The agreement with Earth Metal Scrap USA allows the company to have significant access to end users and considerable pricing advantages when negotiating within the international scrap metal trading markets.” “This arrangement provides our international consumers with direct access to a large North American scrap metal auto parts supplier with a high-quality, on-going stream of foundry-grade materials,” adds Kamal Patel, Earth Metal Scrap’s CEO.
Hunt Global Resources Inc. has signed a share purchase agreement and plan of merger with the shareholders of Carbon Green NA Inc.
Hunt Global Resources Completes Deal with Carbon Green NA
The IT asset disposition (ITAD) company Intechra, headquartered in Jackson, Miss., has announced that its Hartford, Ct., processing facility has achieved R2/RIOS certification. This certification program combines the Responsible Recycling (R2) practices, facilitated by the Environmental Protection Agency and key stakeholders, with the Recycling Industry Operating Standard (RIOS) certification, developed by the Institute for Scrap Recycling Industries.
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Intechra’s Connecticut Facility Receives R2/RIOS Certification
According to a report by the Royal Institute of Chartered Surveyors (RICS) submitted to the U.K. Government’s Science and Technology Committee, unless quick action is taken to increase the recycling of rare earth metals (REM), the government’s plan to achieve 15 percent renewable energy by 2020 will be unattainable. In its submission, RICS notes that the 17 REMs are fundamental components in current renewable energy technologies – from solar panels, wind farms and hydroelectric turbines to possible energy conservation systems and nuclear applications
The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has cited Ifco Systems’ pallet recycling facility in Henderson, Colo., with one repeat and five serious citations for improper machine guarding. The fine followed an inspection conducted by OSHA
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OSHA Cites Pallet Recycler for Violations
The Japanese company VIAM Manufacturing has announced plans to locate a plant in Manchester, Tenn., that will produce PET stable carpet fiber from clear recycled PET bottles.
Steel of West Virginia Inc., headquartered in Huntington, W.V., has announced plans to invest around $15.1 million in capital projects in 2011, primarily at the company’s No. 2 rolling mill facility in Huntington, W.V. “The new equipment includes a dual stacker system, a yield optimizing shear, state of the art rolling mill control systems and upgrades to our mill stands,” says Timothy Duke, president of Steel of West Virginia Inc.
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Steel of West Virginia Investing $15 Million at West Virginia Steel Mill
Genan Business & Development A/S, a tire recycling company headquartered in Viborg, Denmark, has entered into a research and development project with the tire company Pirelli Tyre S.p.A. that is aimed at refining the recycled rubber powder that Genan produces
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Genan Signs Research and Development Deal with Tire Manufacturer
The steel company Nucor Corp. has broken ground on its direct reduced iron facility in Louisiana. The company notes that it received its air permit from the Louisiana Department of Environmental Quality in January after meeting all of the standards ensuring the facility will comply with state and federal environmental controls.
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Nucor Breaks Ground on Louisiana Project