WeRecycle! Emerges from Chapter 11

WeRecycle!, a Meriden, Conn.-based company specializing in the recovery, management and recycling of end-of-life electronics, has announced that it has emerged from Chapter 11 restructuring as WeRecycle! LLC.

The company benefits from significant support from New York-based Hugo Neu Corp., which is now the largest shareholder in the company. Hugo Neu has been an internationally recognized leader in recycling for more than 60 years and will bring “its considerable resources and expertise to help WeRecycle! LLC grow and expand,” according to a press release issued by WeRecycle! 

Management of WeRecycle! remains, with Mick Schum, P.E., having been appointed president of WeRecycle! LLC, while Gina Chiarella serves as executive vice president.

“We believe the newly restructured WeRecycle! LLC is perfectly positioned to continue our growth and expansion in the months and years to come,” Schum says. “This new investment by Hugo Neu Corp. will provide new opportunities to build upon our record of excellence in IT asset recovery and e-waste recycling.”

Chairman of Hugo Neu Corp. John L. Neu says, “In WeRecycle!, we saw an opportunity to make an investment in an electronic recycling company with a platform for growth and expansion. They have a proven commitment to the highest safety and environmental standards and business practices. We’re looking forward to working with WeRecycle! to establish the company as a national leader.”

WeRecycle! LLC offers management for IT asset recovery, data security and recycling. The company’s services include asset management, data destruction, complete recycling, logistics services and compliance assistance services.

The company is a member of NERC (Northeast Recycling Council), NAID (National Association for Information Destruction) and ISRI (Institute of Scrap Recycling Industries), among other associations.

Hugo Neu Corp. is a privately owned firm that manages, builds and invests in recycling, real estate, water transportation and cleantech businesses.

Until 2007, Hugo Neu Corp. was one of the largest metal recyclers in the world. In 2005, Hugo Neu merged its recycling business with Sims Group, creating the largest recycling company in the world.  Hugo Neu was Sims’ largest shareholder until mid-2007, when most of its shares in Sims were sold to Mitsui & Co. Ltd.  Hugo Neu and Sims Group are now distinct and unrelated companies.