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May 3, 2004
Unisphere signs tire baling service deal with Texas firm
TORONTO, ONT-Unisphere Waste Conversion has signed a two-year agreement to provide tire baling services to Frontier Tire Services of Beaumont, Texas. The contract involves four balers, generating a revenue of approximately $90,000 per month, and includes an option to renew annually for up to five years. When an additional tire supply is secured by Frontier, the contract will be amended to add four more balers, increasing the revenue to $180,000 per month. Frontier has baling contracts in Beaumont and the Dallas/Fort Worth area and is currently negotiating contracts in Mississippi and Louisiana, including a deal with Jefferson County to supply tire bales for the construction of approximately 30 miles of roadbed. In addition to the baling contract in Texas, Unisphere is also providing shredding services to Envirotech Industries International in Phoenix, Arizona. The shredding operation has a projected revenue stream of $50,000 per month. Envirotech is also working with Unisphere to develop and demonstrate technology for processing off-road (OR) tires. The equipment will be tested at Envirotech's Phoenix facility and shipped to Unisphere's St Gilles and Grenier sites in Quebec to process the OR tires into rubber shreds for the tire-derived fuel market. Unisphere will receive $210 per tonne from RecycQuÈbec (the provincial recycling agency) for the processing of the OR tires.