LONDON -- (Marketwired) -- 07/02/13 -- E-Waste Systems, Inc. (OTCQB: EWSI) ('EWSI' or the "Company"), an electronic waste management services, technology and reverse logistics company and the first public pure eWaste company, announced today its entry into Mexico via a joint venture and management agreement with Scoex S.A. de CV of Mexico City. The deal includes rights to the first eWaste logistics Cloud-based technology -- eWasteTrack.
The deal is expected to yield $1.7 Million in first twelve month revenues for EWSI, alongside the simultaneous expansion of the eWaste brand into Mexico and the integration of a proprietary and world class technology from Scoex capable of tracking and managing logistics from frontier to frontier giving EWSI first to market application for the global eWaste industry.
Martin Nielson, founder and CEO of EWSI, stated, "We have been in discussions with the Scoex team for many months now and are thrilled to reach this agreement. Our global brand now enters the important market of Mexico. We are also adding a most needed and unique technology offering and helping to accelerate our revenues at the same time -- all in direct support of our key 2013 strategy."
Nielson added, "The SCOEX team of technically savvy professionals has created an integrated global platform from source to destination that we can use to weed out improper transport and import/export trading, and ensure compliance while streamlining the entire trading process. The commercial synergies possible with the Mexico-California presence of our two companies are expected to be used as solid building blocks for our growth."
The "Global E-waste Management Market 2011-2016" study, (2011)(4), projects global volume of e-waste generated each year to reach 93.5 million tons in 2016 representing a CAGR of 17.6% per year from 2011 to 2016. According to the United Nations, over 500,000 tons of that ewaste is already being generated by Mexico's consumers each year including laptop and desktop computers, domestic electronics, telephones, cellphones and televisions and, as elsewhere, is the largest growing domestic waste stream. The World Bank (2012) further reports that Mexico is the world's 11th largest GDP; its economy is strongly linked to those of its North American Free Trade Agreement partners; and it has become one of the most important countries in the manufacturing of electronics(2). EWSI believes these factors combine to make a compelling case to enter the Mexico market and to enter with a well-connected partner, which possesses a significant focus on logistics technology.
EWSI's technology partnership with Scoex S.A. including eWasteTrack will provide services to enhance efficiency for the entire global e-waste trade channels from ewaste suppliers through various logistic providers crossing international borders, dismantlers, recyclers, financiers, commodities brokers, customs agents, and processors involved in the refining of new raw materials. Scoex S.A is a highly experienced company focused on providing a complete e-sourcing, and global trade, all from its proprietary logistics management platform. Scoex's philosophy is to focus on high quality, fast and low cost services to its users by combining technology, services, knowledge and operations into a seamless, on-line, and proprietary trading platform.
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