LANCASTER, Pa. (March 23, 2011)—Ecore International Inc., manufacturer of commercial and sports surfacing products from recycled rubber, has closed a $40 million recapitalization and refinancing package concurrent with the announcement of the commercial introduction of its patent-pending “itstru” technology.
Announced in October, itstru bonds Ecore's recycled rubber material with a variety of textile wear layers, creating a durable, environmentally sustainable product with backing composed of 98-percent post-consumer content, the company said in a press release. No other manufacturer can boast such a high post-consumer content, Ecore said.
About 10 percent of the capital investment will be used to consolidate the Hanover, Pa., Ecore recycling facility into the manufacturing plant at York, Pa., without eliminating any jobs, the company said.
“The move will give us over 100 million pounds of refined recycled rubber capacity,” said Arthur B. Dodge III, Ecore chairman and CEO. “We will be able to process all forms of scrap rubber as well as efficiently reclaim our own materials in a closed-loop process.”