Tirex makes second TCS-1 sale to China

MONTREAL (July 14)—Tire recycler Tirex Corp. has signed a memorandum of understanding with the Nanjing Implements Factory, Nanjing, China, to establish a joint venture company to acquire and operate one of Tirex´s patented TCS-1 cryogenic tire grinding systems. The Nanjing Implements Factory will pay the $2.25 million purchase price for the TCS-1 system and also provide the working capital for the joint venture´s operations, according to Tirex. This marks Tirex´s second MOU on a TCS-1 sale to a Chinese business; the first was to the Shandong Hongli Group in Dezhou, China.