GreenParts International Announces Two Major Additions
ATLANTA, June 5, 2015 /PRNewswire/ -- GreenParts International, (OTC: GNPT) a metal recycling company with multiple locations in Atlanta, Georgia has announced the latest implementations of its five year strategic plan.
Chief Executive Officer Asif Balagamwala stated,"We are very excited to announce the formalization of our scrap-management consulting division and our textiles recycling division."
The CEO continued, "We recently agreed, in principle, with a Georgia exporter of recycled clothing to a deal that has the potential to generate up to One Hundred and Fifty Thousand Dollars in income over and beyond the next twelve months. We anticipate this to be the first of many, as we are working on several other textile recycling partnerships."
As the company noted, statistics collected by the Council for Textile Recycling indicate that on a national basis, this industry recycles approximately 10 pounds per capita or 1,250,000 tons of post-consumer textile waste annually. However, these 10 pounds represent less than 25% of the total post-consumer textiles waste that is generated. According to the EPA's 2009 study of the United States generation of solid waste, textiles account for some 12.8 million tons of the solid waste stream, per the same study, rubber, leather, and textiles make up 8.3% of municipal solid waste.
Mr. Balagamwala added, "While Americans are familiar with recycling of plastics and metals, they may be less likely to understand the value of recycling all unwanted clothing and household textiles. Americans throw out nearly 68 pounds/per person of textiles annually. This accounts for nearly 5% of our solid waste stream and it is growing. As a result of lack of sunlight and oxygen, textiles, even the biodegradable natural fibers, do not easily degrade under landfill conditions. It's a tremendous waste of not only the material but the energy and natural resources that went into making them. That is why we are encouraging our customers to bring in their textiles as we aggressively seek other collection points to fulfill our exporters and our growing international customers demands."
In regards to the newly created Scrap Management division, the CEO stated, "Throughout our history, we have purchased material from mills and and other scrap producers, as well as countless foot traffic from individuals and individual contractors. While we haven't always been able to allocate the capital to actively pursue the scrap generators and metal consumers as aggressively as we would have liked, we feel the dedication that we have to our new Scrap Management division will change that and produce significant results." Mr. Balagamwala continued, "We continually invest in our systems and equipment, in order to maximize cost efficiencies and to maintain the highest quality of products. The shredding system is one of the most efficient ways to process metal. Our recent updates are paying off and allowing us to be more aggressive in our outside dealer to dealer sales."
The company noted that the goal of the scrap management division was not just to buy more product, but to create long term partners with scrap generators through its value-added consulting services. GreenParts Scrap Metal Management team feels it can help any facility in any industry become more efficient in the way it handles and disposes of its scrap. Specific targets are processors, mills and foundries, as well as, wire and cable producers and other auto salvage dealers.
The CEO concluded by saying, "Scrap metal is a valuable resource that can be re-melted and transformed into new products countless times. In addition, we are proud to be working in the textile arena and using our experience and knowledge to make a difference by promoting efficient recycling."
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.
SOURCE GreenParts International Inc.
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