Phoenix-based company will purchase the antifreeze recycling assets of Renew Resources LLC.
GlyEco Inc., headquartered in Phoenix, has completed a preliminary agreement to acquire certain assets of Renew Resources LLC, a provider of recycling services in Rock Hill, S.C. The transaction is scheduled to close by July 31, 2012.
Renew Resources, which serves about 200 customers in the greater Charlotte, S.C., area, provides recycling services for industrial waste, including antifreeze, used oil filters, electronic scrap, light bulbs, plastics and batteries. The company also provides a line of equipment used in changing automotive antifreeze.
Under the agreement, GlyEco will purchase certain assets of Renew Resources’ antifreeze recycling business.
This preliminary agreement is the sixth acquisition announcement for GlyEco in 2012. Earlier in 2012 the company announced the acquisitions of assets from Enviro-Cool LLC, MMT Technologies, Evergreen Recycling, Full Circle Manufacturing and Recycool Inc.