Sage Sustainable Electronics to Acquire Hugo Neu Recycling; Business Customers to Benefit
Industry leaders join forces to help clients improve financial recovery from used electronics, accelerate innovation
COLUMBUS, Ohio and NEW YORK, Sept. 1, 2015 /PRNewswire/ -- Sage Sustainable Electronics, a next-generation IT asset disposition company focused on extending the useful life of technology, announced today that it has reached agreement to acquire Hugo Neu Recycling, an electronics recycler and subsidiary of Hugo Neu Corporation.
The acquisition brings Hugo Neu customers proprietary tools such as the Sage Bluebook® and the Sage Central customer portal as well as an extended range of IT lifecycle solutions designed to guarantee data security, reduce costs and recover value from used electronics. Sage's strategy to extend reuse and delay recycling will benefit the company's customers almost immediately, said Hugo Neu Recycling President Alan Ratner.
"Sage systems and methods for increasing reuse improve financial results, and our integration creates new efficiencies in recycling," Ratner said. "And our customers can use the Sage BlueBook® to confirm that they're getting a great deal."
The acquisition is the latest step in a close working relationship between the companies. Hugo Neu Corporation provided startup funding for Sage in 2014 and is its largest shareholder.
"Hugo Neu Corporation's equity ownership and support has made possible our innovation and rapid expansion, but it is our shared values for service and integrity that will make the integrated business truly valuable to both company's customers," said Robert Houghton, Sage CEO. "Sage's industry-leading approach to refurbishing and reusing older electronics, combined with Hugo Neu's 68-year history of responsible recycling, delivers a new level of value and security to business customers nationwide."
Sage will significantly increase the level of reuse at Hugo Neu Recycling's New Jersey facility, said Wendy Neu, Hugo Neu Recycling Chairman and CEO. "As a Microsoft Authorized Refurbisher, Sage will increase the value of every computer we refurbish," she said. "Our customers also benefit because Sage's facilities extend our reach across the country."
Sage will join Hugo Neu Recycling at Hugo Neu Corporation's 130-acre industrial development at Kearny Point, New Jersey while retaining its headquarters in Columbus and its facilities in Baltimore, Columbus, and Reno.
"The Kearny Point location brings the full suite of Sage capabilities within 15 minutes of Manhattan," said Sage President Jill Vaske. "We look forward to sharing our approach, which includes services such as redeployments, donations and employee sales to help customers extract maximum value from their IT investments."
About Hugo Neu Recycling
Hugo Neu Recycling (HNR) is a subsidiary of New York City-based Hugo Neu Corporation. Once one of the largest recyclers of scrap metal in the world, Hugo Neu is now an industry leader in electronics recycling, continuing the company's 68-year legacy of responsible recycling. Hugo Neu Recycling is located on the Hugo Neu Corporation's 130-acre development property at Kearny Point, NJ. Additional information at HugoNeuRecycling.com
About Sage Sustainable Electronics
Sage is committed to making the world more sustainable by extending the life of used electronics. The company works with businesses nationwide to conveniently and securely manage their used electronics for data erasure, redeployment, resale, donation, and as a last and final resort, recycling. Sage operates repurposing centers in Baltimore MD, Columbus OH, and Reno NV, and soon at Kearny Point, NJ. Additional information at SageSE.com.
About Sage BlueBook®
Sage BlueBook provides fast, accurate values for used electronics, helping businesses and consumers reuse more and recycle less. Sage BlueBook is a free service of Sage Sustainable Electronics, and is available at SageBlueBook.com.
SOURCE Sage Sustainable Electronics
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