Investment/recycling industry

Editorial team

Suntech signed MOU with Gangsan Group, South Korea for dismantle old cars about 5,000 cars per month

Suntech Recycle and Decarbon Company Limited or Suntech, subsidiaries of Millcon steel Plc signed the memorandum of understanding (MOU) to Gangsan Group, South Korea in order to increase stability in raw material procurement, extending a comprehensive policy of scrap dismantle of old cars.

Mr.Suphamongkhon Manoch, chief operating officer of Suntech, a leader in a recycling which is one of the business of MILL Group, said that Suntech is looking for partners to expand the recycling business.

The signing of the MOU with Gangsan Group of South Korea will strengthen and stabilize the supply of scrap cars as raw materials which plays an importance for recycling and reduce the risk of price fluctuations and shortage of raw materials. As a result, Suntech enables to operate at full capacity and become a leader in the recycling business.

Gangsan Group is one of the largest companies in South Korea, operated in dismantle old car business that has gained high reliability in South Korea industry.

They have alliances with the big car manufactures such as Hyundai and KIA. Moreover, South Korea has policy to support recycling industry, especially, the recycling of old cars scraps in order to prepare for the step into the electric vehicle society completely.

Moreover, many countries have given importance to and supported the recycling industry systematically for example settling up the recycling industry community which is another way to solve the environmental problem for sustainability.

Suntech has continued to seek the partner continuously in order to build the strength of company and become the integrated recycling business leader. In addition, the company is ready to cooperate in participation in supporting government policy in the management of old car scraps in domestic systematically and sustainably.