Itec Environmental Group, Inc. announced a definitive agreement to acquire Rose Waste Systems, Inc. of San Carlos, Calif., a company with an array of recycling, refuse and scrap handling equipment and contacts within the recycling industry.
Rose has more than 100 successful installations in both the domestic and international markets and represents 25 manufacturers located throughout the world.
Itec and Rose Waste Systems believe the merger will improve Itec's standing within the U.S. plastic container industry in addition to facilitating Itec's acquisition of large quantities of PET and HDPE for cleansing with Itec's Eco2 Environmental System and subsequent sale into the post-consumer plastic market.
Itec recently entered into a three-year agreement with H. Muehlstein & Co., Inc., pursuant to which H. Muehlstein will act as Itec's exclusive agent for the purchase and sale annually of up to 60 million pounds of Itec's PET flake and post-consumer HDPE natural flake and pellets in the U.S. and Canada.