Carbon Green Inc. Acquires Greenwood Commerce

Tire recycler Carbon Green Inc., based in the Slovak Republic, has announced the completion of the acquisition of all of the shares of Greenwood Commerce Ltd. from CBp Carbon Industries Inc, also based in the Slovak Republic.

In connection with the closing, Carbon Green accepted the resignation of David Brow as president, and has appointed John Novak president and Ken Lee as secretary.

Novak is the co-founder of CBp Carbon and served as its CEO, managing director and president until December 2009, during which he was responsible for all strategic matters including corporate direction, financial management and governmental relations.

"More than 10 billion tires are stockpiled around the world and this number is growing at an alarming rate,” says Novak. “The disposal and management of these tires has become a crisis of global proportion. Through the acquisition of Greenwood and its state-of-the-art commercial production plant, Carbon Green has acquired a technology that will dramatically change how tires are recycled and positions Carbon Green as a leader in the clean tech recycling industry.”