Infotrek Syscom - RecycleNet Joint Venture in India

Infotrek Syscom Ltd has announced that RecycleNet Corporation (OTCBB: GARM) announces the formation of a joint venture between RecycleNet Corporation, and the Company. RecycleNet will provide its Exchange software for an Indian electronic exchange.

The joint venture will be operated as E-Exchange India and will focus on the trade of used and scrap computers, televisions, telephones, CRT´s, other electronic and electrical equipment. E-Exchange India will facilitate both domestic and international trade of recycled electronics for a booming Indian economy. The introduction of the EU Directives for WEEE and RoHS (Waste Electronic and Electrical Equipment and the Reduction of Hazardous Substances) in Europe has set in motion a new standard that has had a ripple effect worldwide and caused a substantial increase in the awareness and activity international trade of electronic scrap.

This venture gives RecycleNet Corporation a strong relationship in India, which is currently one of the largest developing markets in the world for importing secondary commodities. E-exchange India will become a building block in RecycleNet´s BRIC (Brazil, Russia, India, China) strategy. The Institute of Scrap Recycling Industries (ISRI) is planning its second ever trade mission and first to India for early 2007. RecycleNet Corporation was a key participant in ISRI´s first trade mission to China in September 2005.

Source : Equity Bulls

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