Chung Tai Resource, Philip Morris Taiwan to Develop Waste Recycling Program; Shares Rally 10%
MT Newswires Live
Dec 02
Chung Tai Resource Technology (TPE:6923) signed a preliminary engagement letter with Philip Morris Taiwan to develop a recycling program for waste heated-tobacco devices and consumables, according to a Monday Taiwan Exchange filing.
Shares jumped about 10% in Tuesday's midday trade.
The deal marks the start of planning for a recycling model, process flows and a cooperation mechanism.
Chung Tai expects to launch a backend disposal program with its joint-venture Ke Jiou Co. Ltd. as part of a circular-economy initiative for heated-tobacco products.
The company said the collaboration aims to enhance resource recovery and expand its electronic-waste recycling service capacity.
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