Envipco Holding N.V.
Innovative Recycling Systems for a cleaner environment
Interim Management Statement for the 1st Quarter 2010
Envipco Holding N.V, a public listed company on the Brussels Euronext NYSE "ENV" and a leading provider of recycling systems and solutions to the beverage and retail industries, announces its interim management statement for the period from 1 January 2010 through 31 March 2010.
The following are the main events/activities which occurred during the interim period:
- The shareholders, at the annual meeting of the shareholders held on 27 April 2010 voted and approved all items under the agenda as per the published Notice of meeting to the Shareholders: http://www.envipco.com/pdf/2010/EHNV-2010-AGM-Notice.pdf
- The US subsidiary signed two contracts for the sale of 400 Reverse Vending Machines (RVMs) for delivery and installation during the second and third quarters of 2010.
- The impact of the recently expanded bottle bills in the states of Connecticut and New York to include water bottles under deposit, has resulted in an increase of about 10% of volume of containers redeemed through Envipco RVMs. Part of Envipco revenues in the US are volume based.
- Launch of a new low-volume RVM Platform using new proprietary technology, aimed towards small to middle market retail customers.
- Sorepla, the French plastic recycling business is showing consistent recovery of recycled PET markets and prices. The capital expansion aggregating about €6.3 million to include extrusion and granulation of PET for food grade approved application is underway and satisfactory progress is being made. The project is expected to be completed on schedule by end of the year.
- Progress on non-deposit market initiatives, both in terms of new innovative RVM technology sales and market development continue to meet our expectations.
- There are no other significant events which may have a material impact on the financial position of the group.
- The future outlook remains very positive.
The Board of Directors of Envipco Holding N.V
18 May 2010
For further information please contact Gool Santchurn: By phone: +1 203 720 4059 By e-mail: [email protected] Website: www.envipco.com
About Envipco:
Envipco Holding N.V is a recognised leader in providing innovative recycling systems and solutions for the recovery and recycling of post consumer beverage containers. The Group's principal activities include the following:
- The design, development, manufacture and sale or lease of reverse vending machines "RVM" as the foundation of recycling systems for the collection and processing of used beverage containers.
- The provision of technical support, RVM maintenance and accounting services to the retail stores, bottlers and distributors for containers redeemed through these machines.
- Provision of materials handling services, primarily in the Northeastern part of the USA, for containers that are subject to deposits mandated by law.
- The processing of used Polyethylene terephthalate (PET) and High-density polyethylene (HDPE) plastics for recycling.