March 6, 2012 Envipco Holding N.V., a public company listed on the NYSE Euronext Brussels “ENVI” and Repant ASA a Norwegian publicly listed company at the Oslo Stock Exchange “REPANT” announce a Technology Exchange and Market Cooperation Agreement
Envipco and Repant are both Reverse Vending Machine (RVM) manufacturers with Envipco mainly present in the US market and Repant in the European market. As Envipco and Repant look to expand their respective markets, it is clear that the companies have complementary technology portfolios. On the Technology Exchange, Envipco has agreed to supply its propriety state of the art compactor on an OEM basis to be used in Repant RVM installations. The companies also see a number of additional areas to leverage current technology and new technology under development. The initial technology exchange is expected to provide immediate market advantages to each in their respective markets.
Envipco and Repant have also agreed to jointly develop an OEM compactor business in Finland. Considering Repant’s market position in Finland along with Envipco’s demonstrated market success in Germany, the companies expect to be able to provide the unique Envipco compactors to other RVM operators and/or the retail customers on a more cost competitive basis. Based on the success of the Finish market, the intent is to expand this co-operation to other markets where Repant has a full service capability.