LONDON & IRVINE, Calif.--(BUSINESS WIRE)--E-Waste Systems (OTCBB: EWSI), an entity focused on creating a global e-waste recycling and electronic asset recovery services company in the Waste Electrical and Electronic Equipment (“WEEE”) industry, announced today that its trading symbol is EWSI. E-Waste Systems (“EWSI”) has recently reorganized its operations in order to launch the process of creating a market-leading, integrated business in the rapidly emerging WEEE industry, targeting businesses and institutions facing regulatory or other mandates for the handling of e-waste. EWSI plans to do so by acquiring a select number of high-quality companies with strong management teams that have a shared commitment to helping customers achieve cost-effective and environmentally-responsible compliance with e-waste recycling and disposal requirements. EWSI will seek to leverage and extend its acquisitions’ established customer relationships by expanding the services offered to customers, applying best practices in professional management, and by investing in state-of-the-art recycling technology – creating what it hopes will be a truly global service provider in the e-waste sector.
EWSI has taken steps to position itself to acquire authorized service providers to premier manufacturers and retailers such as Dell, LG, Panasonic, Sharp, Samsung, Sony, Toshiba, Tesco and Amazon with recurring revenue and direct access to significant e-waste streams. The Company, following the successful closing of the previously announced transaction with CSS/CPU, intends to recycle the e-waste, recovering at least 98% of all inbound tonnage including precious metals for refinement and resale.
Martin Nielson, Chairman & CEO, E-Waste Systems states, “We are pleased to have our common stock eligible for quotation on the over-the-counter bulletin board. Our strategy for growth demands access to capital and we believe that this will be an efficient means to do so. In addition, we believe that a properly valued stock will give us a currency for furthering our growth and will increase liquidity for our investors. The announcement of the CSS/CPU acquisition earlier this week, plus other acquisitions and other growth initiatives we are pursuing are also targeted to help us attain the qualifications needed to seek a listing of our common stock on another exchange such as NASDAQ, so we intend to prepare ourselves accordingly.”
Nielson adds, “We believe the time is right to implement a carefully developed plan for expansion in multiple jurisdictions. Our goal is to help transform a young industry into one that is extremely professional, environmentally-driven, very thoughtful, and economically productive.”
About E-Waste Systems:
From its functional headquarters in London where e-waste regulations are the most stringent in the world, E-Waste Systems aims to be a leading provider of waste electric and electronic equipment processing services in key jurisdictions around the world. The e-waste sector represents a $55 billion industry as environmental legislation mandates that such waste can no longer be sent to landfill. Original equipment manufacturers, retailers and consumers are now responsible for end-of-life management of all e-waste. And, growing Corporate Social Responsibility drives requirements for highly compliant and professional solution providers. Currently, the collection and recovery industry is highly fragmented and largely unprofessional, creating an attractive opportunity for a buy, build, and upgrade strategy in the sector. To learn more, visit ewastesystems.com.
Forward-Looking Statement:
The statements in the press release that relate to the Company’s expectations with regard to the future impact on the Company’s results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance.