DES MOINES, Iowa (March 19, 2002)—GreenMan Technologies Inc. has signed a letter of intent to purchase the Iowa-based tire collection and processing operations of Utah Recyclers Inc. for an undisclosed amount.
These operations, headquartered in Des Moines, handle more than 2 million tires annually, producing mostly tire-derived fuel and some crumb rubber, according to GreenMan CFO Chuck Coppa. Mr. Coppa said the deal should close in April.