Tex Cycle (P2) Sdn Bhd (TCP2), a wholly-owned subsidiary of Tex Cycle Technology (M) Berhad (Tex Cycle) today entered into collaboration agreement with Econas Resource To Energy Sdn Bhd (ER2E) to maximise business opportunities in scheduled waste management.
In a Bursa Malaysia listing today, Tex Cycle said the collaboration between TCP2 and ER2E marks an advancement in combining expertise to maximise business opportunities in scheduled waste management, where it is expected to have a positive impact on Tex Cycle’s revenue streams and complements the Group’s existing business model, while enhancing the ability to provide comprehensive services in this sector.
ER2E is known for its advanced secured landfill and upcoming incineration facilities and a comprehensive waste management complex in Pengerang, which specialises in the collection, recovery, and disposal of scheduled waste.
By collaborating with ER2E, Tex Cycle will be able to utilise their end-of-life waste disposal facilities namely the secured landfill and incineration plant to extend the range of waste management services to customers, enhancing the Group’s ability to manage and process diverse waste types more efficiently.
This on hindsight would create a remarkable synergy especially with Tex Cycle being one of the market leaders in terms of its scheduled waste recovery and recycling expertise over the past 4 decades.
The collaboration will not only enhance the Group’s market presence but also significantly contribute to a more sustainable future with the Group core waste management processes as well as boost the Group revenue significantly.
Among the key obligations are for TCP2 to source, identify and secure the suitable projects and/or works in relation to scheduled waste management (SWM Works) for the purpose of the Collaboration; leverage on its established market reputation and diverse customer base in promoting ER2E’s business on a best effort basis; and upon being awarded any SWM Works, to award/such SWM Works up to 5,000 tons per month (or such other quantity mutually agreed by the Parties) to ER2E.
Tex Cycle (P2) Partners Econas Resource To Energy To Improve Scheduled Waste Management
