GTSO and Partners Plan Major Latin American Expansion
SAN JOSE, Calif.--(BUSINESS WIRE)-- A week after forging a new joint venture, Green Technology Solutions, Inc. (OTCBB: GTSO) and Chilerecicla are already hard at work identifying new Latin American companies and locales ideally suited to the partnership's ambitious expansion plans.
The partnership has targeted Latin America for expansion because it's a key emerging market in the booming global e-waste recycling and reuse services industry, which Transparency Market Research predicts accounted for more than $9 billion in 2012. The firm expects the worldwide e-waste market to reach $18 billion in 2017, growing at a compound annual growth rate of 13.2 percent from 2012 to 2017.
Santiago-based Chilerecicla is one of the region's top e-waste recyclers. Spreading the company's recycling business model to Chile's neighbors, including Panama, El Salvador, Costa Rica and others, will be the joint venture's top priority. With the help of their South American consultants, CCI Capital SpA, GTSO and Chilerecicla aim to align regional recyclers with local smelters to streamline and simplify the process of reclaiming valuable materials from electronic waste in some of the world's fastest growing economies.
"Currently, we're putting together comprehensive data on the recycling operations and e-waste mineral content of a number of nations and municipalities in Latin America for comparison," said GTSO CEO Paul Watson. "Once we've identified our best opportunities in the region, we'll proceed with negotiations."
E-waste recycling, or urban mining, is a major pillar of GTSO's plans to compete alongside major international corporations striving for sustainable manufacturing solutions, such as Sprint Nextel Corp. (NYS: S) and Toyota Motor Corporation (NYS: TM) . Late last year, GTSO acquired the company Green Urban Mining to handle the company's US recycling and resale operations.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. [www.gtsoresources.com] is a growth-oriented company exploring rare earth minerals and precious metals production and recycling around the world. To learn more, please visit the website at www.GTSOresources.com/investors.html.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Green Technology Solutions, Inc.
Paul Watson, 408-432-7285
President and CEO
KEYWORDS: United States North America South America California
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