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|Japano-Chinese Recycling JV For Consumer Electronics|
Four Japanese and Chinese companies jointly announced May 30 that they have reached the agreement to form a joint venture in China's Zhejiang province for recycling of consumer electronics. The four companies are Panasonic Corp, Hangzhou DADI Environmental Protection Engineering Co, DOWA Holdings Co, and Sumitomo Corp. |
The agreement provides for the joint venture, Panasonic DADI DOWA Summit Recycling Hangzhou Co or Panasonic Hangzhou DADI for short, to be established in Hangzhou city in June. Interests in the joint venture are supposed to break out as 35% for Panasonic Corp of China, 35% for Hangzhou DADI Environmental Protection Engineering, 18% for Dowa Eco-System Co, and 12% for Sumitomo Corp. The four partners are contemplating putting the joint venture into operation in January 2012.
When in operation, Panasonic Hangzhou DADI will collect and disassemble five items of waste consumer electronics while selling recovered materials. The five items are TVs, refrigerators, washing machines, air conditioners and personal computers. Plans call for treating waste consumer electronics at an annual level of 1,000,000 units in 2015.
With electrical and electronics products in fast growing use in China, waste consumer electronics are on the increase there. As a result, the central government brought an ordinance into effect in January 1, 2011 with an aim to promote proper and safe disposal of waste consumer electronics. The ordinance provides for the five items of waste consumer electronics to come under obligatory recycling.
In Zhejiang province, a total of nearly 2,900,000 waste consumer electronics were recovered in 2009-2010. Besides, high growth is expected for the recovery volume in future.
|last modified : Fri 03 Jun, 2011 [16:20]|