T&T T&T Corp of Hamilton and Ukraine's Coral Group Ecological Technologies sign memorandum of understanding.
HAMILTON, ON, Feb. 23 /CNW/ - T&T T&T Corp of Hamilton recently signed an MOU with Coral Group (http://www.coralintech.com/) to develop, build and operate a passenger tire retread and recycling facility in Hamilton to initially process 120,000 tons of WAT (Waste Automotive Tires) per year. T&T T&T will also provide the equipment necessary to operate the first stage of the operation, a closed loop Passenger Retreading plant called Evergreen Resource Recovery. Evergreen will retread and recycle as many passenger tires as possible before they all eventually become scrap. The entire project will be located at the Hamilton Port Authority with access to water, rail and road transport.
According to the Tire Retread Information Bureau (http://www.retread.org/) a WAT, also called a "casing", is one of the most recyclable products since approximately 80 percent of the cost of manufacturing a new tire is in the casing. Only the new tread is applied to the thoroughly inspected and acceptable casing using the most modern new tire manufacturing technology. To manufacture one new passenger tire 27 liters of oil are used. To manufacture one passenger retreaded tire only 10 liters of oil are used. This most efficient recycling process saves the environment 17 liters of non-renewable oil per passenger tire that is retreaded.
Once recycled in as many ways as possible, all tires, not just passenger, cannot be recycled and must be disposed of in another way. Almost 2/3 of scrap tires are incinerated and must compete with the price of coal at only $50 to $75 per ton. Coral Group employs over 200 soviet era scientists and has developed and patented a revolutionary, innovative pyrolysis technology for recycling WAT that finally allows the tire to be transformed into most of its original expensive components, such as N-660 Carbon Black (25%), Diesel (23%), Solid Steel Ingot (23%), Propane/Butane (10%), etc. This process generates revenues over $650 per ton and delivers a substantial EBITDA profit of almost $370 per ton.
The Coral system has been thoroughly inspected and checked by Pelmar Engineering Ltd. http://www.pelmar.com/English/) an independent specialized engineering company and found to be very innovative and that the Coral system is efficient and meets the criteria of environmental requirements.
KPMG, Israel (http://www.kpmg.co.il/) assisted Coral in preparing the Business Plan.
Coral Group has granted T&T T&T exclusive access to their technology for Canada and the Eastern United States. 3,200,000 tons of WAT are produced in this area annually and represent 20% of the world's annual supply of WAT. If all WAT were recycled this way, global revenues would approach $6 billion per year.For further information: Len Lottridge, T&T T&T, email@example.com, (905) 978-3883; Mike DiCenzo, Evergreen Resource Recovery, firstname.lastname@example.org, (905) 628-8568; Ben Kurtz, Kurtz Financial Group, email@example.com, (416) 200-0657