CRS REPROCESSING SERVICES ANNOUNCES LONG-TERM CONTRACT WITH FIRST PHILEC NEXOLON CORPORATION
Louisville, KY (August 25, 2011) — CRS Reprocessing Services, LLC (CRS) recently signed a long-term slurry reprocessing agreement with First Philec Nexolon Corporation (FPNC). Located near Manila, Philippines, FPNC is a strategic partnership between First Philec and wafer manufacturer, Nexolon Company, Ltd. in Iksan, South Korea. FPNC is the second First Philec facility located inside the First Philippine Industrial Park in Barangay Ulango, Tanauan City, Batangas, Philippines, the first being First Philec Solar Corporation (FPSC).
Under a supply agreement, CRS supplies FPNC continuous and increasing volume of slurry over a five-year period. This turnkey slurry reprocessing solution is expected to employ up to 11 individuals, including a site manager, lab technician and operating technicians.
The first CRS contractual installation with FPNC – as well as CRS’s new presence in the Philippines - could open doors to future opportunities for collaboration, according to Bill Lawrence, founder and president of CRS. “This is an exciting opportunity that we anticipate will lead to even further expansion throughout Asia. We have operations in China, Korea and Japan, and now a significant facility in the Philippines. This new venture, combined with other projects in the works, will give CRS a 210,000 metric ton capacity worldwide before the end of 2011.”
About CRS Reprocessing Services
CRS is a global partner in fluid reprocessing management, offering people, technology and services to efficiently handle industrial fluids for manufacturing facilities. With 30 years of expertise and operations in the U.S., Europe and Asia, the company's custom-built, on-site reprocessing facilities economically transform used fluids back to customer-specified performance levels, allowing high-yield waste recovery and lower unit costs.
The company's private-equity partners have a combined portfolio value in excess of $1 billion, giving it the capital resources to expand operations across the U.S., Europe and Asia and the opportunity to provide engineered reprocessing solutions worldwide.
About First Philec Nexolon Corporation (FPNC)
FPNC is jointly owned by First Philippine Electric Corporation (First Philec) and Nexolon Corporation Limited of Korea. First Philec is the intermediate holding company for all manufacturing investments of First Philippine Holdings Corporation (FPHC). First Philippine Holdings in turn owns such established companies in the energy and electronics sector like First Gen, Energy Development Corporation, Philippine Electric Corporation, First Sumiden Circuits and First Philec Solar Corporation, which was the first large-scale solar wafer slicing company in the Philippines. FPNC continues to establish First Philec as the solar arm of FPHC.
Nexolon, on the other hand, is one of the leading manufacturers of mono and multi crystalline solar ingots and wafers.
FPNC enters the PV industry benefiting from the culture and technical expertise of its parent companies. It stands on firm foundation of technology, financing, market infrastructure, organization, and history.