Swedish Tire Pyrolysis Technology Supplier Launches Holding Company in the US
Renowned tire pyrolysis equipment manufacturer Scandinavian Enviro Systems (known as Enviro) has decided to launch a holding company in the USA to facilitate its establishment of co-owned tire pyrolysis plants on the US market. Recently, Enviro published a press release disclosing details of the decision.
“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 mentioned in a recent press release by Enviro, the company has signed a term sheet with US TreadCraft Carbon LLC regarding the establishment of a jointly owned plant for end-of-life tire pyrolysis 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.
Enviro asserts that, 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 going 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.”
Press release by Enviro.
Weibold is an international consulting company specializing exclusively in end-of-life tire recycling and pyrolysis. Since 1999, we have helped companies grow and build profitable businesses.