TORONTO, July 2, 2015 /CNW/ - Canada Fibers Ltd. (Canada Fibers) announced today that it has taken bold steps towards the creation of superior value from municipal and commercial solid waste. Canada Fibers has created an affiliate named Urban Resource Group Inc. (Urban Resource Group), which will focus on production of high quality sustainable products from solid waste. Canada Fibers' solid waste recovery operations include four state-of-the-art Municipal Recovery Facilities in the Province of Ontario, as well as two large-scale commercial recovery facilities.
On March 10th, 2015 Canada Fibers announced the formation of Urban Polymers, which is engaged in production of pure, homogeneous plastic raw materials for plastic processors from both post-consumer and post-industrial plastic waste. During its first phase of evolution, Urban Polymers will focus on the creation of pure Polyethylene Terephthalate (PET) flake from post-consumer beverage bottles, as well as highly formulated polyethylene and polypropylene compounds in pellet form from both post-consumer and post-industrial waste. Urban Polymers has created over 20 jobs since its inception this spring.
Urban Resource Group has entered into agreements to acquire three companies, which will expand the portfolio of products and services available to Canada Fibers' growing customer base. Urban Resource Group recently entered into agreements to purchase the shares of Ecowood Ltd. (Ecowood) and the shares of All Waste Removal Inc. (All Waste). Both of these acquisitions are expected to close during July of 2015. The third acquisition involves the assets of a manufacturer of wooden fuel pellets, which was completed earlier this year.
Ecowood is engaged in the production and sale of architectural garden mulch products from post-industrial wood. Sold through leading home improvement retail chains as well as garden centers, Ecowood's products are well known across Canada for enhancing the beauty of landscape projects. Over time, Ecowood will be rebranded Urban Garden Products.
The wooden fuel pellet operation is engaged in the production of wooden fuel pellets from post-industrial wood materials. This product line will be sold through leading home improvement chain stores in Canada was well as through distributors in the USA. Over time, these products will be branded Urban Biofuels.
Finally, All Waste is engaged in providing waste management services to industrial commercial and institutional organizations. All Waste will play an important role for Canada Fibers in obtaining materials for recovery and recycling business units. All Waste has begun the process of rebranding its activities as Urban Waste Recycling.
"Creation of Urban Resource Group represents another bold step for Canada Fibers," noted CEO Joe Miranda. "Our expanding group is increasingly positioned to provide complete and creative solutions for its customers," added Mr. Miranda. He concluded saying, "we continue to explore ways that we can help our customers derive value from their discarded products."
In December of 2014, Mark Badger joined Canada Fibers to help Mr. Miranda drive strategic growth initiatives. Mr. Badger has served in several senior executive roles within the North American plastics and chemical industries, with a focus on growth through new product introductions, geographic expansion and technology development. Mr. Badger remarked on today's announcements noting that Canada Fibers "is well equipped to mine urban resources to provide its customers with enhanced profitability and sustainability."
Through their recycling initiatives, Canada Fibers and the Urban Resource Group help to conserve natural resources and energy, as well as to mitigate Greenhouse Gas emissions. Moreover, the companies help their customers, including Stewards, to achieve sustainability goals. The Canada Fibers recently introduced a waste audit and advisory practice for its customers, which is aimed at helping them to achieve world-class recovery performance. The audit practice will provide scorecards for these customers to help them show their stakeholders the progress being made.
Canada Fibers was established 25 years ago as a Toronto-based paper recovery and marketing operation. Since then, its operational scope has broadened to include recovery, separation and marketing of a wide variety of recovered materials, comprising plastic, glass, aluminum, paper and metal materials. Today, Canada Fiber's supply side customers include municipalities in the Province of Ontario, as well as institutional, commercial and industrial organizations. As noted in today's announcement, the Company is now engaged in the production of consumer and industrial products from the waste it recovers through The Urban Resource Group of companies.
SOURCE Canada Fibers Ltd.