Recyclix® on Further Strategy for Development and Growth

Further to the information that was published in the previous newsletter, Recyclix would like to provide important information, details and updates on the consequences of the massive fire that hit its Brożek Recycling Plant on February 14th, 2017.

Recyclix would like to clarify that in order to be as transparent as it has always been, additional information will be provided continuously to all those who are indirectly involved in this event.

Investigations were immediately started by the local authorities and the involved insurance companies but the nature of the fire is still unclear, which doesn’t allow having a clear and complete picture of the situation yet.

In order to develop a professional recovery plan Recyclix Management has met an expert group, consisting of professional consultants, lawyers and qualified partners, and is happy to inform that it resulted into an action plan that will guarantee to overcome this particular and temporary crisis.

Technical procedures will be completed in March; this is why detailed information cannot yet be published. Though subscriptions will be operational this month already, to collect a significant amount of capital used to purchase new raw material and equipment in order to fully restore the production capacity of the facilities that are already operative and of those under construction or in a phase of acquisition.

Recyclix is currently working on a solution of offering its users an option to convert the temporarily suspended waste packages into shares of the above-mentioned fund.

The application for the registration and activation of the fund has been already submitted and is now to be authorized by the respective banking authority; the update will follow immediately once the approval has been given.

We would like to encourage the entire supportive Recyclix community to work together to fully restore the business activities as soon as possible.

Despite of what happened; Recyclix management is determined to move forward to solve all the current issues in an efficient and rapid way. We are convinced that with your understanding and support Recyclix will be back on the stage of the big European Recycling companies very soon.