Metech International Enters Into Agreement with Singapore Firm

Electronic waste recycler Metech International, Inc announced has entered into an agreement to be acquired by Centillion Environment and Recycling Ltd of Singapore for $22 million. Deal hopes to be complete by the end of September.

Centillion has electronic recycling operations in the United Kingdom and China, and operates a joint venture company in Singapore with Veolia Environmental Services Asia Pte Ltd. Eddie Chng, chairman of Centillion, was quoted as saying, "Metech has over 35 years of experience in the electronics recycling and precious metals refining business. They handled over 13 million lbs of materials in FY2006 and 19 million lbs of materials in FY2007, which is a testament of their capabilities in this area."

Sam Advani, president of Metech, says "This proposed acquisition allows us to better service our multinational customers with a one stop solution for the handling and proper disposition of their electronic materials. We are very excited at the prospect of being part of such a dynamic company with tremendous growth potential. I look forward to working closely with Centillion management to execute on our shared vision of being the only global integrated recycler of electronic waste."

Metech operates facilities in Worcester, MA; and Gilroy, Calif., where Metech recently acquired an electronics waste processing plant (see earlier story); as well as collection facilities in Malaysia and Thailand.