GreenMan Technologies of Tennessee Inc., a new wholly-owned subsidiary, will operate the plant, which is expected to begin operations in April 2003.
“Our investment in the Tennessee facility significantly strengthens our southern market position in terms of geographic presence and expanded tire processing capacity,” Tom Carter, GreenMan’s southern regional vice president, said. “We have worked diligently over the last two years to double our Tennessee-sourced scrap tire base to an annualized volume of over 4 million passenger tire equivalents and are now at a point where our Tennessee scrap tire volumes justify the capital commitment necessary to establish a high-volume tire processing facility.”
The plant will produce tire-derived materials for southeast markets, Carter added, but GreenMan plans to install its fourth waste wire processing line at the plant to maximize its performance and meet market demand.
Previously, tires sourced in Tennessee were shipped to GreenMan’s Georgia plant for processing, resulting in transportation costs in excess of $65,000 during some months, GreenMan CEO Bob Davis said. “These short-term costs will, however, pave the way for enhanced long-term performance at both our Tennessee and Georgia plants.”