Calif. can recycling program facing meltdown, Tomra says
Dec 01, 2009 | 09:37 AM
| Paul Schaffer
Tomra Pacific Inc., which takes back beverage containers under California's deposit-fee program in 395 locations, said a previously profitable program has dived into a $5.7-million loss for Tomra through August.
This is likely to widen to $9.4 million when the books are closed on activity running through December.
The skimpy state reimbursement rates that took effect in November, projected backward for all of 2009, would have led to an $18.5-million loss, the company said. Refunds to beverage drinkers aren't affected by those cutbacks. However, the program makes two kinds of payments to recycling centers, one limited to those....
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