MONTREAL (Nov. 4)—BIMS Renewable Energy Inc. has purchased another recycling firm, Corporation Economondo Inc. of Contrecoeur, Quebec, for about $8.6 million, according to a BIMS news release. With the Economondo purchase, BIMS now owns a plant employing thermal decomposition to convert scrap tire rubber and car fluff into gas, oil, steel and pure carbon. In the release, Yves Renaud, BIMS vice president and chief financial officer, said the purchase "represents our transition from a development-stage company to a revenue-producing one." Neither Renaud nor any other BIMS official could be reached for further comment.
Montreal firm buys rubber recycling plant