Newco Metal and Auto Recycling is expanding its metals processing capacity at its Foxtrap, Newfoundland and Labrador facility, allowing it to enter more markets and create jobs.
The company received a CAD$1mn ($766,630) repayable contribution from the Atlantic Canada Opportunities Agency and will invest the same amount from its finances on operational improvements and the addition of 10 employees.
The upgrades will enable Newco to process cleaner, higher value metals. Moreover, its shredder facility efficiency will be upgraded through the addition of office space and integrative technology to connect all locations in real time. Shredder process improvements will safeguard the site and mitigate environmental impacts.
The company’s metal recycling business processes scrapped vehicles, appliances and other metal waste across 10 Newfoundland and Labrador locations. In addition to taking scrap metal from landfills and accepting peddler drop-offs, the recovered metals, which mostly comprise steel and aluminum, are exported globally, with China its largest partner.
Newco, which opened 35 years ago, employs 100 people.
CAD$1 = US$0.77 (as on Jan 15, 2020).