Tuesday, May 3, 2011

JBII Enters into Referral Agreement With Smurfit-Stone:

Smurfit-Stone is a Multi Billion Dollar Company!:

Smurfit-Stone Container Corporation (NYSE: SSCC) is one of the industry's leading integrated containerboard and corrugated packaging producers and one of the world's largest paper recyclers. Smurfit-Stone generated revenue of $6.3 billion in 2010, has led the industry in safety every year since 2001, and conducts its business in compliance with the environmental, health, and safety principles of the American Forest & Paper Association. The company is a member of the Sustainable Forestry Initiative(R)

JBI, Inc. ("JBI" or the "Company") and Smurfit-Stone Container Corporation ("Smurfit-Stone") entered into a Referral Agreement (the 'Agreement"). Pursuant to the Agreement, Smurfit- Stone shall refer to JBI selected clients ("Smurfit-Stone Clients") that may be producing significant amounts of plastic feedstock to assess the potential use of the plastic feedstock in JBI's Plastic2Oil process. Upon each introduction of a Smurfit-Stone Client to JBI, JBI shall asses, in its commercially reasonable discretion, whether such Smurfit-Stone Client generates a sufficient amount of plastic feedstock to ensure that at least one JBI Plastic2Oil processor operating at such Smurfit-Stone Client's facility will be able to operate at a minimum capacity of (10 metric tons/day).

Upon the determination that such Smurfit- Stone Client generates a sufficient amount of plastic feedstock at its facility to ensure that at least one Plastic2Oil processor will operate at full capacity, JBI shall notify Smurfit-Stone of this determination and attempt to negotiate an agreement with the Smurfit-Stone Client, on terms satisfactory to JBI in its sole discretion to have JBI; (i) install at least one Plastic2Oil processor at such Smurfit Stone Client's facility; and (ii) sell the fuel produced by the Plastic2Oil processor to the Smurfit-Stone Client or to third parties.


1 comment:

  1. Dynamite, and right out of the gate. This company is headed to the biggies for their environmental efforts and as a model for economic change...

    Good Job JBI, Inc., a step forward for all involved.



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