SOURCE: Panasonic

January 07, 2008 18:00 ET

Top Electronic Brands Form New Recycling Company

Panasonic, Sharp and Toshiba Join Hands to Meet Recycling Requirements

LAS VEGAS, NV--(Marketwire - January 7, 2008) - Three leading electronics brands have established a new electronic product recycling management company, Electronic Manufacturers Recycling Management Company, LLC (MRM), to manage collection and recycling programs in the United States. The new company's first activities are focused on providing cost-effective services to manufacturers who must satisfy the recently enacted requirements in Minnesota for the recycling of used electronic products.

Formed as a joint-venture between Panasonic Corporation of North America, Sharp Electronics Corporation and Toshiba America Consumer Products, MRM will provide a recycling service to electronics manufacturers and others, including state and local governments. In addition to planning for recycling programs in several states from late 2008 or 2009, including Connecticut, North Carolina, Oregon, Texas and Washington, MRM is also positioned to offer recycling services as needed in other states or on a national scale. Going forward MRM anticipates working with concerned stakeholders to develop a viable, long-term national solution.

"We believe that forming an independent company to manage collective electronic recycling programs is the best way to achieve the economies of scale and efficiencies necessary to create a sustainable recycling system for used electronics products," said David Thompson, MRM President. "MRM has already entered into collection and recycling agreements with Hitachi Electronics, JVC, Mitsubishi, Philips, Pioneer, Sanyo and Olevia brand maker Syntax-Brillian, and looks forward to working with other manufacturers going forward."

An important goal for the new company is to provide consumers with convenient recycling opportunities. Minnesota Pollution Control Agency Commissioner Brad Moore praised the company's work. "In the first five months since Minnesota's new electronic recycling law took effect, MRM collected approximately 750 tons of used products -- a significant amount. We are pleased with MRM's effort in being the first manufacturer organization to offer convenient recycling service to citizens in all parts of our state, and hope it works to decrease illegal dumping of waste electronic products."

MRM is designed to operate a practical and efficient program that works for consumers and manufacturers in the state of Minnesota and beyond. Cost-effective and environmentally sound recycling are important for increasing the long-term sustainability of the electronics industry and this new company reflects the venture partners' continued commitment to environmental responsibility.

About MRM

Established as a joint venture by Panasonic Corporation of North America, Sharp Electronics Corporation and Toshiba America Consumer Products, Electronic Manufacturers Recycling Management Company, LLC ("MRM") will operate a collection and recycling program in Minnesota and beyond. The joint venture company has been set up to serve the needs of electronics manufacturers who will be responsible for take-back of products under new electronic waste recycling laws, as well as the needs of consumers for convenient access to electronic recycling opportunities.