Three Tire Recycling Plants for Mexico

Titan Technologies, Inc. announced the signing of a contract with International Tire Recycling, a Texas Company, to construct three Titan Tire Recycling facilities in Mexico. The first tire recycling facility will be constructed in Nuevo Laredo, Mexico. The second recycling plant is planned for Juarez, Mexico and the third planned for Tijuana, Mexico.

The three proposed tire recycling plants, when completed, will process 45,000 scrap tires per day. At full capacity the three plants are expected to produce approximately 63,000 gallons of oil per day, approximately 270,000 pounds of carbon black and approximately 45 tons of steel per day. The byproducts recovered have a ready market for resale and reuse.

The first facility is slated for Nuevo Laredo and Titan has received a $105,000 deposit toward licensing fees that will amount to $3,000,000 for completion of the three recycling plants.

Titan anticipates that it will receive the balance of the $500,000 deposit within the next few days and it will be applied as follows: $200,000 for the Licensing fee for the Juarez and Tijuana facilities and the remaining $200,000 for the exclusive license to build additional recycling plants in other areas of Mexico.

The signed contract also states that Titan Technologies will receive $4.00 per ton royalty fees from each of the three facilities for as long as they are operating. The three tire recycling plants will process a total of 450 tons of scrap tires per day when operating at full capacity.