We would like to highlight Sancon Resource Recovery Inc. (OTCBB: SRRY). The company, a waste management and recovery firm, works to collect and recycle commercial and industrial waste primarily in China and Australia. The company operates along the entire recycling chain, from collection to reintroduction.
Although the world’s focus on environmental issues in China has been targeting air and water issues, waste disposal continues to be a reality for its very large manufacturing base. Sancon, working through licenses from the Chinese government, has taken advantage to become one of the leading waste management companies in the country (in a relative sense). The company’s second quarter results amounted to $0.02 per fully diluted share, indicating the quick penetration of a growing and governmentally sanctioned recycling market.
The company operates along the entire waste collection and recycling stream, collection to material reintroduction. Included within this stream are security destruction services, waste collection and disposal, and recycling. The company is currently working to increase its glass recycling processing services in hopes of capitalizing on that material’s lower recycling and recovery rate - as compared to other recoverable materials. In this regard, earnings per share may have been higher if not for investments made for additional glass recycling capacity.
For the latest period, China’s domestic recycling rate for glass was 13%, as compared to a plastic rate of 25% (non-ferrous metals 85% and iron/steel 70-80 %). EPS were also directly affected by earthquake damage to roads in the company’s primary collection regions. Sancon Resource Recovery has clearly staked a claim in the Chinese waste management market and is ready to grow right alongside the Chinese manufacturing boom now taking place.
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