GreenShift Corp. announced plans to transfer its 80 percent stake in Electronic Scrap Recycling Corporation, an Indiana-based electronics recycler, to INSEQ Corp.
GreenShift expects the transfer to occur immediately after its acquisition of ESRC stock, which is planned to close this week.
ESRC provides electronic waste recycling, logistics and Certified Data Destruction services to public and private sector clients out of its 125,000 square foot facility in Elkhart, IN.
"This transfer is an important part of our plans to consolidate the activities of a number of GreenShift's portfolio companies based on their respective core competencies," said Kevin Kreisler, GreenShift's chairman and CEO. "INSEQ's business model is to directly facilitate the more efficient use of natural resources. Essential elements of this are building and selling innovative green products and enabling the resale of secondary materials.
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