Tuesday, May 3, 2011
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.