Tirex wins Canadian government approval

MONTREAL (April 26)—Montreal-based tire recycler Tirex Corp. won approval for tax credits for fiscal year 1999 after a scientific representative of the Canadian Government Customs and Revenue Agency witnessed a demonstration of Tirex´s patented TCS-1 cryogenic tire grinding system at company headquarters. This means Tirex will receive the remaining $153,000 of the $843,000 in tax credits it applied for. The representative´s approval also means Tirex can apply for Canadian government subsidies for new recycling and scientific technologies, according to Tirex President John L. Threshie Jr. "This is a big step for us," Threshie said. "They saw our program, and liked the way we´re progressing."