Tirex signs letter of intent with European firms

MONTREAL (Sept. 29)—Tire recycling firm Tirex Corp. has signed a letter of intent with Simpro S.p.A. of Turin, Italy, and European Transportation Resources of Luxembourg to manufacture and market Tirex´ patented TCS-1 cryogenic tire grinding system. If the agreement is completed, Simpro, a high-technology design and manufacturing company which supplies Fiat and other auto makers, will fabricate, install and test all TCS-1 systems sold by Tirex and ETR worldwide, according to a Tirex press release. Tirex plans to deliver its first TCS-1 system in July 2001, the company said.