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News Release |
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For further information please contact: Christer Mattsson, CEO, Codima Inc. |
Codima
Inc. (CDMA) Announces Codima Green Partnership with Recycling Leader |
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Codima Green has
entered a partnership agreement with a leader in recycling to process their electronics
waste. The agreement encompasses the partner’s recycling contracts with
multiple national retail chains enabling Codima Green to ensure and significantly
increase e-waste tonnage, hence expanding its revenue. Following the
agreement Codima Green estimates the combined revenue for
2010 and 2011 at $9M with estimated net profits around 20%. Further growth is
expected as Codima Green continues its planned nationwide rollout of e-waste
recycling services for large commercial clients such as retailers, large
enterprises and governmental agencies. Benefiting
the client’s environmental program, the e-waste will be picked up at outlets
nationwide and delivered
to recycling plants for recapture of the base materials including precious
metals. “This partnership provides
an exciting start for our new division,“ comments Christer Mattsson, CEO of
Codima Inc. ”Codima Green now takes the next step to offer nationwide e-waste
recycling service while enabling us to recycle valuable metals on a larger
scale, generating strong new revenue.”
The
full recycling service targets the disposal and security problem facing
organizations as the consumption of telecom devices, computers and other
electronics equipment rapidly escalates. Further
enhancing the Codima Green service, users can easily identify malfunctioning
and unused hardware in a network utilizing the asset inventory software,
included in the company’s network management offering, Codima Toolbox. Cautionary Note
Regarding Forward-Looking Statements: This press release contains certain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934, including but not limited to statements
regarding the Company's beliefs and expectations about the performance and
benefits of its technology; marketing and commercialization activities; and
our beliefs regarding research and development efforts. These forward-looking
statements involve certain risks and uncertainties that could cause actual
results to differ. All forward-looking statements herein are based on
information available to us as of the date hereof, and we undertake no
obligation to update forward-looking statements to reflect events or circumstances
occurring after this date. SOURCE: Codima Inc. ABOUT CODIMA Inc. Codima INC. (CDMA), headquartered in Philadelphia, PA with global
reach supported by eleven offices across North America, EMEA, Latin America,
Asia and Australia, provides best practice software tools to help
organizations manage their IT networks. Fully automated and fully integrated,
Codima Toolbox delivers tools for network inventory, mapping and monitoring
using Microsoft® Office Visio® as well as pre- and
post-deployment VoIP management. Codima Green, the environmental division,
specializes in recycling end-of-life electronics. Codima is a Microsoft
Certified Partner and an Avaya DevConnect Gold Partner. |
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