Dive Brief:
- Creative Recycling Systems, an electronic waste recycling company, has ceased operations in Durham, NC.
- The Tampa, FL-based company filed for Chapter 11 bankruptcy protection in August. Court filings list 11 locations that were expected to close immediately, although the Durham location was initially expected to remain open.
- 3S International LLC, a company in Mt. Pleasant, MI, received approval to acquire key technology owned by CRS Holding of America LLC. The Michigan electronics firm is currently being led by former CRS executives.
Dive Insight:
Creative Recycling Systems recycled monitors, computers, and other electronics from businesses in the area. It had once been touted as a worldwide leader in the electronics recycling industry. According to data compiled by Transparency Market Research, the electronics waste industry is expected to be worth $41.36 billion worldwide by 2019.
Although e-waste management markets are expected to grow at a rate of 14.6% from 2014 to 2018, that hasn't prevented some companies from closing down due to the high costs of business.
