Canadian firm Minpro International Ltd., an engineering and manufacturing company supplying advanced processing solutions to the waste-treatment and mining industries worldwide, announced that it has …
Canadian firm Minpro International Ltd., an engineering and manufacturing company supplying advanced processing solutions to the waste-treatment and mining industries worldwide, announced that it has signed a Letter of Intent to enter into a joint venture agreement with Enviroglass Recycling Ltd. of Nova Scotia, to use Minpro“s revolutionary Enviroglass Recycling System (“ERS”) for grinding glass from waste. The joint venture partners consist of four entrepreneurs and will have an exclusive territory to source waste glass and sell the ground glass of the Atlantic Provinces of Canada, said Minpro in a recent company statement. The joint venture will have its head office in Halifax, Nova Scotia and the first plant will be located in Nova Scotia. Production is scheduled to commence prior to 31 December 1999 to meet the requirements of the Recycling Council of Nova Scotia. Minpro will own 50% of the joint venture as well as majority control of the board of directors. Minpro“s partners in the joint venture will provide a minimum of C$ 500,000.00 in capital. The joint venture will purchase the ERS from Minpro and will focus on sourcing, supply, and marketing of the products from Minpro“s revolutionary glass grinding system. The agreement is scheduled to close on 15 September 1999. “This is the first joint venture whereby Minpro uses it“s ERS for a territory and participates in the potential for the disposal of ground glass at premium prices for high end uses,” said A. John Carter, President of Minpro. “We expect this joint venture to make a significant contribution to our bottom line in our next fiscal year.” The Envirogrinder enables Minpro to take the waste glass, normally sent to landfill, and through its mobile processing facility, convert the glass into a reusable product, said the company. The product has more than seventy potential applications including, abrasives, fibreglass, golf course sand, paint and plastic fillers. At present, approximately two-thirds of all wasteglass ends up in landfill, according to the company. Minpro says ERS will provide for a reduction of over 90% in this major waste problem.