A. C. Simmonds and Sons Signs LOI to Acquire Environmental Waste International
Environmental Waste International Inc., an Ontario-based designer and manufacturer of a tire recycling system that uses patented reverse polymerization technology (microwaves) to recycle used tires, announced recently that a non-binding letter of intent (LOI) has been entered into with A.C. Simmonds and Sons Inc., regarding the proposed acquisition of all of the issued and outstanding common shares of EWS by ACS, in exchange for common stock of ACS .
“One strategic focus of A. C. Simmonds and Sons is disruptive technology that is environmentally sustainable,” said John G. Simmonds, Chairman & CEO of ACS. “We welcome the EWS solution to the Company as it enables us to reuse organic materials such as tires that are otherwise a major source of waste.”
“With the backing of A. C. Simmonds and Sons including its financial and management resources, EWS believes it will soon realize the commercial potential of this unique technology” said Daniel Kaute. Ph.D., President & CEO of EWS.
EWS specializes in eco-friendly systems for the breakdown of organic materials such as tires. EWS has spent over 15 years engineering systems that integrate the EWS patented Reverse Polymerization process and proprietary microwave delivery system. EWS’s unique microwave technology safely processes and recycles waste tires into valuable commodities including carbon black, oil and steel. Each unit is designed to be energy efficient and economically self-sustaining.
ACS, with lineage through its management team to 96 years of business experience, is a Canadian based company with interests across North America and a growing international presence. The Company is focused on acquiring profitable businesses for expansion and development in seven growth sectors: international food, oil and gas, waste management, mold remediation, renewable energy, disruptive technology, leisure and entertainment. John G. Simmonds, Chairman and CEO, co-founded the largest Canadian golf course operation and has successfully established and grown companies and built effective teams. Mr. Simmonds has served as chairman and a member of the board of directors of several public companies.
For more information, please visit www.acsimmondsandsons.com
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