UNIVERSAL Robina Corp. (URC) on Tuesday said it had partnered with Greencycle Innovative Solutions Inc. for the creation of an integrated waste ecosystem integrating plastic waste reduction and conversion into recyclable products.
UNIVERSAL Robina Corp. on Tuesday said it had partnered with Greencycle Innovative Solutions Inc. for the creation of an integrated waste ecosystem integrating plastic waste reduction and conversion into recyclable products.The joint venture was approved by URC 's board on Monday and subject to approval by the Securities and Exchange Commission for incorporation.
The joint venture will have an initial paid-in capital of P27 million.Both parties have agreed to a 75-25 ownership split with URC getting the bigger share.'Such ownership ratio shall be maintained for all types of financial capital undertakings,' it said in the filing.Operations are scheduled to start in September 2024 after government approvals and the necessary licenses have been secured.
Greencycle Tie Up For Waste Ecosystem
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