Norwegian reverse vending machines maker Tomra Systems ASA signs cooperation agreement with Sumitomo Corporation

Jun 24, 2008 (NORDIC BUSINESS REPORT via COMTEX) -- SSUMF | Quote | Chart | News | PowerRating -- Norwegian reverse vending machines maker Tomra Systems ASA said on Tuesday (24 June) that it has signed a cooperation agreement with Japan's Sumitomo Corporation.

Under the agreement the companies will form a 50/50-owned joint venture to develop further the Japanese market for automated beverage container collection.

Tomra Systems said that Japan's current manual collection systems are expensive, and that an automated system based on Tomra Systems technology would reduce the recycling costs for Japanese municipalities by half.

Tomra Systems, headquartered in Asker, Norway, is a leading developer and manufacturer of reverse vending machines for recycling packaging. The group has 2,000 employees NOK3.49bn in 2007.

One British pound (GBP) is worth approximately 10.18 Norwegian kroner (NOK).

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