SCOTT, La. (Oct. 26, 2007) — Scrap tire processor and recycler Colt Inc. has begun a $5 million, two-phase expansion.
The first phase, on which the company broke ground in early October, involves the installation of new tire processing equipment and new facilities for tire storage and truck parking, and will cost approximately $3 million, according to Colt President Kip Vincent.
The second, $2 million phase will involve installation of tire wire processing and recycling equipment.
"We're not necessarily expanding our capacity," Vincent said. "We're just trying to get to better markets."