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Article: GREENMAN CONCENTRATES ON SCRAP-TIRE RECYCLING.
- Article from:
- Industrial Environment
- Article date:
- August 1, 1999
CopyrightCOPYRIGHT 1999 Worldwide Videotex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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GreenMan Technologies Inc., Lynnfield, Mass., (NASDAQ:GMTI) (NASDAQ:GMTW)(BSE:GMY)(BSE:GMYW) has completed divestiture of its DuraWear subsidiary to ETEC Technical Ceramics Corporation (USA).
"We are extremely pleased to have the DuraWear divestiture behind us for two reasons," said Robert H. Davis, president and chief executive officer of GreenMan Technologies.
"First, DuraWear and its employees will undoubtedly receive the necessary capital and focused management needed to grow its business," Davis said. "Second, GreenMan is now a pure tire-recycling company, with no non-core or underperforming assets. Consequently, we can now, finally, look forward to ...