24th Jul 2006 12:10
3DM Worldwide PLC24 July 2006 3DM Worldwide plc Pallets from printer cartridges re-cycling partnership 3DM Worldwide plc ("3DM" or "the Group"), the developer and holder of theintellectual property rights to a polymer-based powder impression moulding ("PIM") process, is pleased to announce the signing of a partnership agreementwith Close the Loop ("CtL"), a leading global recycler of imaging consumables.The Partnership will utilise the PIM process to convert used printer cartridgesand other used imaging consumables into pallets. CtL currently has contracts with companies including Cannon, Hewlett Packard andEpson to take imaging consumables and to provide a full recycling service. CtLpromises its customers, including the aforementioned companies, that none oftheir waste materials will be disposed of via landfill. 3DM's PIM process offers the opportunity to convert the material into highervalue products than is currently possible, as the waste material can be used inthe core of a new product - with virgin polymer on the surface skins - soleaving no visible evidence of the black/grey core of recycled material. Under this agreement, CtL will provide 3DM with recycled styrenic polymermaterials, one of the raw materials used in the PIM process. 3DM will thenconvert it to products which will either be sold back to CtL clients or sold onthe open market. In the initial project for pallets, CtL will contribute 50% ofthe costs of three new moulds and has committed to selling 50% of the productionfrom those moulds. 3DM believes that this contract could be worth between£350,000 and £400,000 per annum, should the anticipated volumes be achieved. 3DMexpects volumes to grow steadily through 2007. Niall Mackay, Chief Executive of 3DM, comments: "This is another exciting opportunity to use our PIM technology for thecommercial recycling of a major waste stream that would otherwise be likely tohave gone to landfill. Products produced through the PIM process will themselvesbe fully recyclable and we see great potential to expand our joint activitieswith CtL into Continental Europe and the US." Steve Morriss, Chief Executive of CtL, adds: "This project is a classic example of how sustainability can benefit bothbusiness and the environment. The PIM technology, coupled with our expertise inrecycling the plastic stream from eWaste, provides an opportunity to divertlarge amounts of plastic from landfill and/or incineration." 24 July 2006 ENQUIRIES: 3DM Worldwide 02920 885858Peter Oldham College Hill 020 7457 2020Gareth David Close the LoopJonathan Trew 0131 558 2715 /[email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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