Appliance Recycling Centers of America announced that its Canadian subsidiary, ARCA Canada Inc., has been awarded a multi-year contract of up to $40 million to recycle older, inefficient but working refrigerators, freezers and room air conditioners by the Ontario Power Authority.
The program is scheduled to start June 25 and run through the end of 2010. If this year’s recycling targets are met, ARCA would realize revenues of approximately $3 to $4 million over the balance of 2007.
Under terms of the OPA program, ARCA will collect and recycle eligible appliances. To handle projected recycling volumes, ARCA will expand its appliance recycling center in Ontario previously used for handling a pilot project with the OPA. Additional local jobs will be created as a result of this investment.
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