Petroleum Inc. has finalized its purchase of the recycling assets associated with Resource Polymers Inc., based in Hamilton, Ontario.
The company, which is a holding company for the assets associated with its recycling operations, was incorporated in Ontario in 2002 and has been in operation for eight years. The company says it expects to finalize its audit of the operations of Resource Polymers and within the next month.
"This was the first step to finalizing the share exchange agreements between Fox Petroleum and the companies associated with Resource Polymers," says William Lieberman, president of Fox Petroleum.
In addition to its plastics recycling operations, Fox Petroleum says it is seeking partnerships and joint ventures across a variety of oil and natural gas projects in North America. The company says it expects to make its oil and gas acquisition by the end of the first quarter.
Fox Petroleum Inc. is focused on acquiring, developing and operating plastic recycling operations throughout North America. The company says its Canadian subsidiary will process up to 30 million pounds of post-industrial and post-consumer plastics scrap per year.
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