The Recycler Issue 316

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CITY NEWS OEM share prices February 2019 Prices correct as of 1st February 2019 Share Prices COMPANY JAN FEB Brother Industries (Yen) ¥ 1698 1927 Canon (Yen) ¥ 3038 3201 Dainippon Ink & (Yen) ¥ 3389 3520 Chemicals Sun Chemicals parent company HP Inc. (US$) $ 21.21 2.80 Hubei Dinglong (RMB) ¥ 6.53 6.81 Jadi (MYR) M 0.03 0.04 LG Chem (S Korean Won) W 352k 368 Matsushita Electric (Yen) ¥ 1045 1064 Industrial Co. Panasonic parent company Mitsubishi Chemicals (Yen) ¥ 864 902 Ninestar Corporation (RMB) ¥ 24.59 23.87 Formerly Apex Microelectronics Oki (Yen) ¥ 1391 1277 Seiko Epson (Yen) ¥ 1604 1657 Turbon AG (Euro) € 3.40 3.12 Xerox (US$) $ 21.58 29.98 UK Waste Prices price per tonne Aluminium €133.55 116.62 Plastic €105.67 149.77 Paper € 13.68 16.46 Currency €/US$ 1.14 1.14 €/£ 0.88 0.88 £/US$ 1.30 1.30 Oil Price Crude oil - (US$) $ 59.82 61.54 ‘Brent Crude futures, 1-Pos IPE close’ per barrel Shipping Prices Europe (Hamburg/Antwerp/ $ 996 960 Felixstowe/Le Havre) Mediterranean (Barcelona/ $ 997 962 Valencia/Genoa/Naples USWC (Los Angeles/ $ 1933 1993 Long Beach/Oakland) USEC (New York/Savannah $ 3119 3054 Norfolk/Charleston) Sources: HMRC, FT.com, krx.co.kr, tse.or.jp, Environment Exchange, packagingnews.co.uk *Brent Crude price is for February 2019 Search for The Recycler on Facebook for more news and industry coverage ASIA Ninestar, Q3, Financials Ninestar releases latest quarterly report The Chinese company’s most recent financials for Q3, ending December 31st 2018, have been published, bringing mostly positive news. Ninestar reports that the value of its total assets rose slightly in Q3, compared to the same period of 2017, climbing 0.75 percent to ¥35.79 billion ($5.27 billion/€4.64 billion) from ¥35.52 billion ($5.23 billion/€4.6 billion). The company’s operating income also increased, in comparison to Q3 2017, hitting ¥5.47 billion ($805.9 million/€709.23 million), up 6.71 percent. For the nine months to the end of Q3 2018, however, there was a slight year-on-year decrease, falling 2.21 NORTH AMERICA LaserCylce USA, TCR Services, Acquisition LaserCycle USA acquires TCR Services The Colorado company has bought the assets of the San Diego-based dealer. TCR Services was founded in 1989, and has been serving customers across Southern California and others states with printers, MFPs, copiers, compatible toner cartridges and other printing supplies ever since. An authorised Sharp and Copystar dealer, it also offered repair services for laser and inkjet printers, copiers, and fax machines, as well as providing Managed Print Services (MPS). It has been acquired by the Louisville, Denver-based LaserCycle USA, a provider of document management, software, and technology solutions, including nationwide MPS. Owned and operated by Kirk Peck, LaserCycle is also an authorised reseller of printers, copiers, and MFPs from brands including HP, Ricoh, Sharp, Savin, and percent to ¥15.89 billion ($2.34 billion/€2.06 billion). In terms of net cash flow from operating activities, there was a substantial increase for Ninestar in Q3 2018, hitting ¥514.07 million ($75.73 million/€66.65 million), an increase of 784.64 percent. This was also the case in the net cash flow from operating activities for the nine months up to the end of Q3 2018, which increased by 543.41 percent, to reach ¥1.05 billion ($154.68 million/€136.14 million). Lanier. It offers service and repair of “all major brands” of printers, copiers, and MFPs. The acquisition utilised the services of Mike Dudek and Rich Wisniewski of Zygoquest Group, which acted as advisor to TCR Services. The terms of the deal remain undisclosed. 16 THE RECYCLER • ISSUE 316 • MARCH 2019
visit www.therecycler.com for all the breaking news CITY NEWS ASIA China, GDP, Slow Down 2019 to bring Chinese slowdown A new report on the nation’s growth outlook has cast its predictions for the Chinese economy. Writing for Business Day, Dan Steinbock argues that in the coming year, the Chinese economy will be required to “cope with great international uncertainty and even more extraordinary market volatility.” Looking at annualised growth over the course of 2018, Steinbock calls last year an “exceptional” one, with the fallout from the trade war with the USA in the second half of the year leading to “substantial collateral damage that will be felt even more in 2019, in the absence of a constructive reconciliation.” However, forecasts for growth remain around the 6.5/6.6 percent mark, and Chinese GDP could grow by around 6.2 percent across the Full Year – “assuming policymakers succeed in the challenging balancing act to sustain higher-quality growth while suppressing faster debt accumulation.” Despite this, Steinbock also asserts that the Chinese government’s own GDP growth target, which may not be officially announced until March, will likely reflect a steady deceleration, again owing to the trade war, and other “more secular” pressures, including environmental, debt, and real estate market issues. This deceleration is referred to as expected, following China’s recent history of speedy industrialisation and growth. Steinbock also admits that China “could achieve more rapid growth,” but this would come at the cost of ignoring its commitments to higher living standards, sustainability, and eradicating poverty. Despite the expected deceleration, living standards in the country should rise. The slowdown will also foster stability, it is opined, compared to a more abrupt decline. In the long-term, the growth rate is currently set to fall from 9.6 percent, as it was in 2008, to 5.6 percent by 2023. Yet in that period, GDP per capita will increase to more than $21,200 (€18,549) from less than $7,900 (€6,912) in 2008. Steinbock finishes his summary by warning that the world’s major advanced economies are “heading toward a complicated, economically challenging and politically divisive stagnation. Unfortunately, much of these downside risks remain under-valued in the West. The greater the gap between misguided perceptions and economic realities, the more challenging will be the awakening.” EMEA Kotak Investment Advisors, Karvy Data Management Services Kotak and Karvy bid for Ricoh India Kotak Investment Advisors and Karvy Data Management Services have submitted bids to acquire Ricoh’s troubled Indian subsidiary. As the Economic Times reports, the “distressed” Ricoh India has almost Rs 3000 crore ($421.7 million/€369.7 million) in unpaid dues and owes Ricoh Japan and Ricoh Asia Pacific approximately Rs 1,500 crore ($210.8 million/€184.8 million). Kotak and Karvy submitted their bids to Ricoh’s committee of creditors, helmed by Deutsche Bank, “which will choose the new owner of the company.” Ricoh India’s lenders may suffer a 5-10 percent loss on their loans. These include Bank of India and Citibank. Ricoh India’s troubles began in 2016, when the company “admitted its accounts appeared to have been ‘falsified’ and that it estimated to have incurred a loss of Rs 1,123 crore ($157.8 million/€138.4 million) for the financial year concluding March 2016. Minority shareholders claimed compensation both from Ricoh India and its Japanese parent company. THE RECYCLER • ISSUE 316 • MARCH 2019 17
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Page 4 and 5: DecaBDE: Static CEO Lalley speaks o
Page 6: WORLD FOCUS EUROPE IMEX, New Hire,
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Page 24 and 25: AROUND THE INDUSTRY Search for The
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Page 28 and 29: FEATURE Coming together and embraci
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