Bonds to be backed by RRI’s recent manufacturing plant purchase.
Hong Kong – January 14, 2013 — Rubber Research, Inc. (RRI), a wholly-owned subsidiary of the Rubber Research Group, announces that is has entered discussions with the city of Ogilvie, Minnesota, USA for the city to provide revenue bonds on the manufacturing plant it recently purchased in Ogilvie. The plant, which consists of 2.4 acres of land and three buildings, was the former home of Hi-Tek Rubber, Inc.’s manufacturing operations. Rubber Research, Inc. ( http://www.InternationalTireSolutions.com ) signed an agreement to purchase the plant, as well as Hi-Tek, in December 2012.
In 2009, after the property was sold to an independent investor, a fire damaged most of the structures. RRI has contracted with Mularoni & Company Architecture, LLC to provide integrated project delivery services in relation to the renovation and reconstruction of the building facilities. RRI and Mularoni have been working with various government agencies in the area to solidify a public/private relationship to create new jobs. The relationship is also expected to facilitate government financing to assist RRI in the development of the new facility which, when completed, will once again produce the innovative rubber roofing products that Hi-Tek was known for.
Gary Ziehr, CEO of Rubber Research, Inc. issued a joint statement noting that the revenue bond issue “will enhance our newly-formed team dedicated to environmentally sound and cost effective scrap rubber remediation as well as make a significantly positive contribution to Ogilvie’s local economy.”
Rubber Research Inc. and its subsidiaries have long been at the forefront of the development of processes unique in the field of rubber reuse and recycling, especially through its patented TireCycle® technology. TireCycle® is the only technology in the world that reactivates used crumb rubber to virgin rubber equivalent in an environmentally sound and cost savings manner.
Rubber Research Group specializes in sourcing, designing, and installing real time solutions, including energy and material recovery, in order to reduce the rapidly increasing number of end-of-life tires discarded annually.
To learn more about Rubber Research, Inc. and its leadership in field of end-of-life rubber tire re-use, visit http://www.InternationalTireSolutions.com.
For more information about Rubber Research, Inc.:
Contact Norman Thayer at email@example.com
Contact phone: +852 2824 8695
Rubber Research Group Ltd
32/F Tower 1, Millennium City, Kwan Tong, Hong Kong
Press & Media Contact:
Rubber Research, Inc
32/F Tower 1, Millennium City
Kwan Tong, Hong Kong
+852 2824 8695