SOURCE: Quest Resource Holding Corporation

Quest Resource Holding Corporation

June 07, 2016 07:00 ET

Quest Resource Provides a Solution to Destroy All Takata Recalled Airbags

Quest Is Helping Dealerships Across the United States Destroy All Recalled Airbags While Maximizing the Recycling of the Recovered Plastics and Metal

THE COLONY, TX--(Marketwired - June 07, 2016) - Quest Resource Holding Corporation (NASDAQ: QRHC) announced today it has begun offering what it believes is a safe, sustainable, turnkey solution to destroy all Takata recalled airbags.

As recently cited in a CNN article, a May expansion of the Takata airbag recall by The United States Department of Transportation's National Highway Traffic Safety Administration (NHTSA) called for an additional recall of 35 to 40 million airbags. Including the previously recalled 28.8 million airbags, the total recall is now estimated at more than 60 million airbags.

Responsibility (and liability) to manage the removal and replacement of recalled airbags has fallen largely on automotive dealerships.

Quest's airbag recycling program, which is being offered to over 12,000 dealership and automotive aftermarket client locations, is designed to ensure the destruction of recalled airbags to prevent the recalled items from being sold in the secondary market, while reducing the dealerships' environmental footprint.

"We believe our easy to use solution will help dealerships across North America navigate the uncertainty about what to do with the massive influx of recalled airbags," said Ray Hatch, Quest's CEO. "We will help national dealership groups properly handle the recalled airbags by not only destroying them, but also by recycling the recovered plastics and metal and by delivering the certificate of destruction the dealerships need to be reimbursed from the manufacturer. "

About Quest Resource Holding Corporation
Quest provides businesses with one-stop management programs to reuse, recycle, and dispose of a wide variety of waste streams and recyclables generated by their businesses. Quest's comprehensive reuse, recycling, and proper disposal management programs are designed to enable regional and national customers to have a single point of contact for managing a variety of waste streams and recyclables. Quest also operates environmentally based social media and online data platforms that contain information and instructions necessary to empower consumers and consumer product companies to recycle or properly dispose of household products and materials. Quest's directory of local recycling and proper disposal options empowers consumers directly and enables consumer product companies to empower their customers by giving them the guidance necessary for the proper recycling or disposal of a wide range of household products and materials, including the "why, where, and how" of recycling.

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which provides a "safe harbor" for such statements in certain circumstances. The forward-looking statements include statements or expectations regarding Quest's beliefs that it is helping dealerships across the United States destroy the recalled airbags while maximizing the amount of material that is recycled; that it has begun offering what it believes is a safe, sustainable, turnkey solution to destroy all Takata airbags; that the solution is designed to ensure the destruction of recalled aibags to prevent the recalled items from being sold in the secondary market while reducing the dealerships' environmental footprint; and that its solution is easy to use and will help dealerships navigate the uncertainty about what to do with the massive influx of recalled airbags. These statements are based on Quest's current expectations, estimates, projections, beliefs, and assumptions. Such statements involve significant risks and uncertainties. Actual events or results could differ materially from those discussed in the forward-looking statements as a result of various factors, including competition in the environmental services industry, the impact of the current economic environment, and other factors discussed in greater detail in Quest's filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2015. You are cautioned not to place undue reliance on such statements and to consult Quest's SEC filings for additional risks and uncertainties that may apply to Quest's business and the ownership of its securities. Quest's forward-looking statements are presented as of the date made, and Quest disclaims any duty to update such statements unless required by law to do so.

Contact Information

  • Investor Relations Contact:
    Ross DiMaggio
    Union Square Associates
    212.675.2100

    Media Contact:
    Vanessa Lepice
    Quest Resource Management Group
    VanessaL@questrmg.com
    972.464.0014