Resource Recovery International Corp. announced that its wholly owned subsidiary, Diversified Resources-US Inc., successfully negotiated a two- year contract with a metals reclamation company to custom briquette about 200 tons of shredded industrial metals per week.
As a result of the significant growth in business volume, the company anticipates revenues for Diversified Resources-US to increase up to 100 percent.
"We are extremely pleased with the outcome of our agreement," commented Ed Kane, CEO of Resource Recovery. "The contract represents a significant volume of business. It also affords us the long-awaited opportunity to re- tool the facility's production lines for improved efficiency and expanded production capacity."
According to Kane, "Diversified has long been producing briquettes and pellets that are custom-designed for the client's specifications. The company has developed superior processing facilities, and also holds a U.S. patent for method and apparatus to produce briquettes. We are pleased to have established a long-term working relationship that will fully leverage our expertise."
Production is scheduled to begin at Diversified's Warren, Ohio facility by the end of next month, following the re-tooling the facility's production lines.
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