Keeping with the client’s environmental program, the company will pick up the e-waste at outlets nationwide and deliver them to recycling plants for recapture of the base materials including precious metals.
Codima Green expects this agreement, which covers the partner’s recycling contracts with multiple national retail chains, to increase its e-waste tonnage, thus expanding its revenue. Codima Green estimates that following the contract, its combined revenue for 2010 and 2011 will be $9m with estimated net profits around 20%.
Codima Green plans to continue its nationwide rollout of e-waste recycling services for commercial clients such as retailers, enterprises and governmental agencies.
Codima’s full recycling service addresses the disposal and security problem that organizations face with escalating consumption of telecom devices, computers and other electronics equipment.
Christer Mattsson, CEO of Codima, said: “This partnership provides an exciting start for our new division. Codima Green now takes the next step to offer nationwide e-waste recycling service while enabling us to recycle valuable metals on a larger scale, generating strong new revenue.”
