Garb Oil & Power Corp. has signed a license agreement with a Chinese manufacturing company to manufacture and market its line of shredders and scrap tire processing equipment. Shredders currently marketed by the company are already being manufactured by the licensee.
Under the license the manufacturer has agreed to complete development of the Garb-Oil OTR tire processing system designed to recover the all-natural rubber from discarded OTR tires. The Licensee will manufacture and market the system in Asia, South America, Europe and other countries outside the United States. The OTR "Disintegrator" is scheduled for completion and marketing before the end of this year.
The Garb-Oil technology includes various sizes and types of Garbalizer shredders that can be used to shred garbage, construction debris, steel drums, scrap tires and other difficult items that must be reduced in size for further recycling or disposal. Garb-Oil shredders are available up to 1000HP for shredding large OTR tires that weigh more than 10 tons each and up to 14'0 in diameter.
The license agreement also includes technology to produce crumb rubber from scrap tires, which will be used to produce rubber-based products including new tires.
Under the Agreement Garb-Oil will receive a royalty for all of the processes and machinery sold by the Licensee under the Agreement.