Envipco Holding N.V.
Innovative Recycling Systems for a cleaner environment
Interim Management Statement
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 July 2010 through 15 November 2010.
The following are the main events / activities which occurred during the interim period:
- The Management Board issued the 2010 first half-year results on 30 August 2010 http://www.envipco.com/pdf/2010/EHNV-2010-1HY-Results-30-Aug-10.pdf
- The US subsidiary successfully completed delivery of the remaining 300 Reverse Vending Machines (RVMs) on its two contracts.
- The expansion of bottle bills in the states of Connecticut and New York to include water bottles under deposit, has resulted in an increase of about 20% 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 $\bullet$ middle market retail customers.
- The Company has developed a range of new compactors, a major component of Reverse Vending Machines, using proprietary technology at a lower cost and with a substantially better yield and performance. The Company is testing these units with some major retail chains.
- Our non-deposit market initiatives are progressing well and Pilot Program in collaboration with Coca- $\bullet$ Cola Recycling LLC is expected to start in the 4th Quarter. http://www.envipco.com/pdf/2010/EHNV-15-Nov-2010-CCR-EPC-Release.pdf
- Sorepla, the French plastic recycling business is showing consistent, albeit slow recovery of recycled $\bullet$ PET markets and prices. The capital expansion project for extrusion and granulation of PET for food grade approved application is progressing with some delays. Phase I of the project is expected to be completed by February 2011 and the final Phase by 30 June 2011. The cost is now revised downwards to €5.5 million from the initial estimate of €6.3 million. Finance amounting to €4.655 million for this project has been secured with the balance of €0.845 million from internal cash flow.
- The Company filed a complaint against Tomra Systems ASA and its US subsidiary for alleged violation $\bullet$ of Antitrust Laws and Unfair Trade Practices as announced on November 4, 2010. http://www.envipco.com/pdf/2010/EHNV-2010-11-04%20-%20PR%20re%20Antitrust%20Suit.pdf
- There are no other significant events which may have a material impact on the financial position of the $\bullet$ group.
The Board of Directors of Envipco Holding N.V
18 November 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 (Envipco), www.envipco.com, is a Netherlands-based holding company listed on NYSE Euronext Brussels (Symbol ENV). Envipco, with operations in several countries around the globe, is a recognised leader in the development and operation of reverse vending machines (RVMs), automated technological systems for the recovery of used beverage containers. Envipco's turnkey solutions cover all aspects of beverage container recycling - from recovery, validation, compaction, sorting, transportation and logistics, to accounting for every container, to recycling and processing used beverage containers to ready for conversion into new containers and consumer products. Known for its innovative technology and market leadership, Envipco holds several intellectual property rights for RVM systems, including but not limited to beverage refund deposit markings, material type identification, compaction and accounting. It also owns and operates the largest independent bottle to bottle PET recycling plant in Europe.