WASHINGTON (Jan. 21, 2010)—British Columbia-based tire recycling company Carbon Green Inc. has acquired Greenwood Commerce Ltd. from CBp Carbon Industries Inc.
As part of the acquisition's terms, J. David Brow resigned as president of Carbon Green, and was succeeded by John T. Novak, co-founder of CBp Carbon. Ken Lee, a director of CBp Carbon, was appointed secretary to Carbon Green.
Founded in 2005, Carbon Green uses a pyrolytic process to break scrap tires down into oil and Carbon Green carbon black. Its first-generation facility in Limasol, Cyprus, is now in operation, processing some 8,000 metric tons, or 800,000 tires, per year. The company also is working with engineering firms SNC Lavalin and Terragon Environment Technologies to create multiple processing plants in North America and Europe by 2015, according to Carbon Green.