CRS REPROCESSING SERVICES ANNOUNCES LONG-TERM CONTRACT WITH NEXOLON COMPANY, LTD.
Louisville, KY (August 24, 2010) — CRS Reprocessing Services, LLC (CRS) recently signed an exclusive, multi-year agreement with Nexolon Company, Ltd. to provide on-site reprocessing services at its production facilities. With a targeted capacity of more than 1.5GW by the end of 2011, Nexolon is positioned to become one of the world's leading manufacturers of solar wafers, and is currently Korea's biggest supplier.
Located in Iksan, South Korea, the plant will utilize CRS's turnkey solution for reprocessing slurry used in the production of solar wafers for the photovoltaic industry. The contract will run for five years with a four-phase build-out. At peak production, the anticipated slurry yield will be up to 36,000MT per year.
“Nexolon is excited about the prospect of partnering with CRS. This company has an excellent reputation for increasing recovery rates while delivering cost savings to their business partners,” said Sung Joon Kim, Director of Strategy Planning Department of Nexolon. “Their program will deliver a consistent slurry quality with a variety of carriers while minimizing staining issues, and that's exactly what we need.”
“Our flexible, solutions-based offerings will allow us to scale up production as quickly as Nexolon needs us to do so,” said Bill Lawrence, founder and president of CRS. “This is an exciting opportunity in a new market and we're ready for the challenge.” At maximum capacity, CRS will employ up to 12 individuals on site, including a site manager, a site engineer, a lab technician and operating technicians.
“CRS's unique on-site model and the close relationship they have with other business partners gives us the confidence we need to enter into a long-term arrangement with them. We look forward to many years of success in this venture,” added Kim.
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 Nexolon Company, Ltd.
Founded in 2007 in Seoul, South Korea, Nexolon is a silicon wafer production company that focuses on solar power generation. Nexolon's vision is to become one of the leading global wafer companies in the renewable energy industry with first-class product quality, ongoing facility expansion and continuous investment in R&D.