SALYP Inks Deal with Chinese Government

China Green Channel Office - Beijing Guohuan P.E.G. Environmental Co Ltd, PEG Enterprises Corporation and NV Salyp announced an agreement to enter a business relationship to handle scrap plastics in China.

The new company, called China ELV Center, has been designed as a network of regional and local "end of life values centers.” The company will begin in 2004.

Technology and system provider will be Salyp NV, a Belgian company involved in the advanced recovery of plastics and polyurethane foam out of post-consumer waste streams.

The Belgian company recently introduced its full-size technology on a global basis.

China Green Channel Office - Beijing Guohuan P.E.G. Environmental Co Ltd , will control and endorse the basic recycling technology systems and approach originally implemented and proven China ELV Centers into the 5000 Chinese counties and cities as an accepted, controlled, governed, economically, profitable and ecologically safe system and will at the same time generate, stimulate and strengthen China's world position in plastics production and recycling.

In a first phase the China ELV Center will approach the recycling of post-consumer computers in China's capital city Beijing as a demonstration, proving and standardizing platform for all Chinese counties and cities. After evaluation period, other ELV' s like automotive, brown and white goods recycling is planned to be integrated in the China ELV Center approach.