April 24, 2012 07:30 ET

Readen Holding Corp. (PINKSHEETS: RHCO) Launches New Joint Venture

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO News Wire

NEW YORK, NY--(Marketwire - Apr 24, 2012) - Readen Holding, Corp. (PINKSHEETS: RHCO) has recently announced their wholly owned subsidiary Moho-Telecom has launched a joint venture with Netherlands based Zwipit to begin e-cycling consumer electronics, mainly cellphones.

Zwipit is a specialist in collecting and processing consumer electronics products across Europe and giving those devices a second life elsewhere in the world. An estimated 87,303 pounds (39,600 kg) of cellphones, batteries, chargers and accessories will be diverted from landfills in the first year. Currently, in the US, major companies like Staples (NASDAQ: SPLS), Hewlett-Packard and Best Buy (NYSE: BBY) all have electronic recycling programs, with Best Buy's (NYSE: BBY) recycling unit turning a profit last year.

Moho-Telecom will start offering the Zwipit recycle service to their customers in the Netherlands as of May 1st, 2012. In Belgium and France parties will set up a joint venture for development of their recycle business. Moho-Telecom will act as Zwipit's exclusive representative in these two territories.

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