E-Waste Systems Inc., a London-based electronics recycling
company, has acquired Irvine, Calif.-based Surf Investments
Ltd., which specializes in selling, servicing and recycling
products from computer manufacturers.
founder and chief executive officer of E-Waste Systems, called
the acquisition "a milestone" and said that it was expected to
produce $1 million in annual revenue.
followed a June 20 announcement that E-Waste Systems had begun
an expansion initiative in India.
The companys new
business unit in India, EWS (Bharat) Ltd., will capitalize on
the approximately $1.5 billion worth of e-waste currently being
generated in India, the company said. The information
technology sector is the single-largest contributor to e-waste
in India, with 30 percent of computer-related equipment
reaching obsolescence annually, it said.
As part of the
expansion, E-Waste will enter into a strategic branding
alliance with iTechRecycle LLC, an India-based e-waste firm,
the company said.
India is facing
serious issues related to the disposal of e-waste, Nielson
said. "While others are talking, we are seizing the
opportunity," he said. "This is seriously needed, and needed
now. With this step, we expect to be the first e-waste public
pure-play company in China, the United Kingdom, the United
States and now in India."