Tuesday, January 31, 2012
JBI, Inc. has partnered with NYSE RockTenn
January 31, 2012 05:31 PM Eastern Time
RockTenn Continues to Grow and Invest in Automated Sorting Capabilities for Recycled Materials
NORCROSS, Ga.--(BUSINESS WIRE)--RockTenn (NYSE: RKT) announced today the opening of a new single-stream recycling facility in Memphis, TN, expanding the Company’s recycling capabilities and increasing its presence and service capabilities.
“We are investing in new facilities across the country to support demand and provide full-service solutions through innovative technology. Our growth is focused on making recycling easy by increasing our single-stream capabilities and supporting our customers’ sustainability initiatives across the country”.
The new 150,000 square-foot facility will complement RockTenn’s established single-stream recycling plants in Chattanooga and Knoxville. The automated, single-stream system allows designated recyclable materials to be fully commingled during collection instead of separated into different bins, a process that offers significant benefits to homes and businesses.
The opening of the Memphis plant, as the first single-stream facility in the city’s metropolitan area, represents a key investment in RockTenn’s Recycling and Waste Solutions growth plan. This is RockTenn’s ninth single-stream system within its thirty-nine recycling facilities. The Company will continue to expand its recycling powers nationwide in the upcoming year in order to reinforce its commitment to provide easy recycling solutions to better serve customers worldwide.
“We are investing in new facilities across the country to support demand and provide full-service solutions through innovative technology. Our growth is focused on making recycling easy by increasing our single-stream capabilities and supporting our customers’ sustainability initiatives across the country,” said Mike Oswald, senior vice president and general manager, RockTenn Recycling and Waste Solutions.
RockTenn’s 39 Recycling and Waste Solutions facilities partner with vendors across the United States to provide innovative ways to recycle items that are not mainstream. The Company’s Recycling and Waste Solutions employees are dedicated to managing waste streams, recovering recyclables and finding new life for old items, in addition to educating companies and communities about the importance of recycling and reducing the amount of materials that enter landfills.
Follow RockTenn to learn the latest news for Recycling and Waste Solutions.
Facebook: https://www.facebook.com/pages/RockTenn-Recycling-and-Waste-Solutions/194274830624248
LinkedIn: http://www.linkedin.com/company/rock-tenn-company
About RockTenn
RockTenn (NYSE:RKT) is one of North America's leading integrated manufacturers of corrugated and consumer packaging and recycling solutions, with net sales of $10 billion. RockTenn's 26,000 employees are committed to exceeding their customers' expectations - every time. The Company operates locations in the United States, Canada, Mexico, Chile, Argentina and China. For more information, visit
RockTenn’s Recycling and Waste Solutions business is one of the largest recycling operations in the world, processing more than nine million tons annually. With 39 facilities in North America processing various grades of papers, plastics, metals and more, and services both large and small companies, RockTenn provides custom programs to reduce waste, minimize costs and support sustainability goals.
Contacts
RockTenn
Media Contact:
Corina Taylor, 314-656-5490
or
Investor Relations Contact:
John Stakel, 678-291-7900
Seekingalpha.com article discusses JBI's Plastic2Oil technology
John Bordynuik's Plastic2Oil: A Long And Winding Road
There's been a lot of controversy about JBI Inc. (JBII.PK). Some hate it, some love it...there doesn't seem to be any middle ground. And if you visit the stock message boards, that becomes abundantly clear. The night and day polarity is baffling.
JBI claims the ability to convert waste plastic into end-user fuels at a prodigious rate using a catalyst and a process called pyrolysis. Detractors say their claims are invalid and P2O doesn't work.
The company went public in April 2009 when the CEO, John Bordynuik, bought 40M shares (64% of the OS) of 310 Holdings Inc. At that time Mr. Bordynuik, a collaborative researcher for MIT (Bloomberg Bio), owned a legacy computer tape recovery company that NASA had sole-sourced (NASA Document) to recover data from their old satellite tapes. This company was immediately merged into the public company. Mr. Bordynuik then started developing his Plastic2Oil (P2O) process using a catalyst he had found on one of the many old tapes he had purchased from various universities.
The company has been able to validate Plastic2Oil using independent labs. They have also obtained a commercial production permit from the NY Department of Environmental Control.
As far as actually being able to produce fuel and sell it, they entered into a 10 year contract with Rock-Tenn (NYSE:RKT) to process their plastic waste, and are selling fuel to a number of customers, one of them being Oxy Vinyl Canada, a subsidiary of Occidental Petroleum (OXY).
It's been a long and winding road for JBI Inc, and that road has recently turned rocky.
In July, 2011 the SEC issued a Wells Notice alleging an asset misstatement of $10M worth of media credits in 2009. Negotiations for settlement between the company and the SEC failed to bear fruit (JBII Response), and on January 4, 2012, the SEC filed a claim alleging fraud. The stock plunged from 2.35 to a low of .52, but has since recovered to $1.25. (1-26-12).
While these SEC actions are troubling, the jury is still out on the final disposition. Alleging fraud for a misstatement of assets seems like a reach.
The share structure has been relatively stable. At company inception it was 64M OS, and now stands at 72M. That's an 8M increase in 3 years.
Risk/Reward Ratio
It's not easy assessing the R/R ratio for a new company like this. On the one hand they have brought to market breakthrough technology. On the other, the CEO is facing SEC actions.
This company could be on the verge of significant gains. The CEO's credentials are impressive (CEO Bio). Their technology appears to be sound, and converting a never-ending stream of zero cost waste plastic into a valuable commodity is a business model most other companies can only dream about.
Shareholder loyalty is strong, considering the attendance at their first Annual General Meeting: 450 shareholders. This bodes well for long term reward.
Short term risk is mitigated by the share price seeming to have absorbed the effect of the SEC actions. The prospects for long term gain seem to outweigh the risk.
Bottom line: Strong buy for long term gains.
Disclosure: I am long JBII.PK
http://seekingalpha.com/article/327332-john-bordynuik-s-plastic2oil-a-long-and-winding-road?source=yahoo
.
There's been a lot of controversy about JBI Inc. (JBII.PK). Some hate it, some love it...there doesn't seem to be any middle ground. And if you visit the stock message boards, that becomes abundantly clear. The night and day polarity is baffling.
JBI claims the ability to convert waste plastic into end-user fuels at a prodigious rate using a catalyst and a process called pyrolysis. Detractors say their claims are invalid and P2O doesn't work.
The company went public in April 2009 when the CEO, John Bordynuik, bought 40M shares (64% of the OS) of 310 Holdings Inc. At that time Mr. Bordynuik, a collaborative researcher for MIT (Bloomberg Bio), owned a legacy computer tape recovery company that NASA had sole-sourced (NASA Document) to recover data from their old satellite tapes. This company was immediately merged into the public company. Mr. Bordynuik then started developing his Plastic2Oil (P2O) process using a catalyst he had found on one of the many old tapes he had purchased from various universities.
The company has been able to validate Plastic2Oil using independent labs. They have also obtained a commercial production permit from the NY Department of Environmental Control.
As far as actually being able to produce fuel and sell it, they entered into a 10 year contract with Rock-Tenn (NYSE:RKT) to process their plastic waste, and are selling fuel to a number of customers, one of them being Oxy Vinyl Canada, a subsidiary of Occidental Petroleum (OXY).
It's been a long and winding road for JBI Inc, and that road has recently turned rocky.
In July, 2011 the SEC issued a Wells Notice alleging an asset misstatement of $10M worth of media credits in 2009. Negotiations for settlement between the company and the SEC failed to bear fruit (JBII Response), and on January 4, 2012, the SEC filed a claim alleging fraud. The stock plunged from 2.35 to a low of .52, but has since recovered to $1.25. (1-26-12).
While these SEC actions are troubling, the jury is still out on the final disposition. Alleging fraud for a misstatement of assets seems like a reach.
The share structure has been relatively stable. At company inception it was 64M OS, and now stands at 72M. That's an 8M increase in 3 years.
Risk/Reward Ratio
It's not easy assessing the R/R ratio for a new company like this. On the one hand they have brought to market breakthrough technology. On the other, the CEO is facing SEC actions.
This company could be on the verge of significant gains. The CEO's credentials are impressive (CEO Bio). Their technology appears to be sound, and converting a never-ending stream of zero cost waste plastic into a valuable commodity is a business model most other companies can only dream about.
Shareholder loyalty is strong, considering the attendance at their first Annual General Meeting: 450 shareholders. This bodes well for long term reward.
Short term risk is mitigated by the share price seeming to have absorbed the effect of the SEC actions. The prospects for long term gain seem to outweigh the risk.
Bottom line: Strong buy for long term gains.
Disclosure: I am long JBII.PK
http://seekingalpha.com/article/327332-john-bordynuik-s-plastic2oil-a-long-and-winding-road?source=yahoo
.
Subscribe to:
Posts (Atom)