Shares in Citiraya Industries Ltd were temporarily suspended from the Singapore stock earlier this year as investigations were mounted by the Corrupt Practices Investigation Bureau and the Commercial Affairs Department (see letsrecycle.com story).
” The Hirwun plant is working as normal, no employees have been lost and we will continue to be processing CRTs as normal.“
– Robert Noakes, Citiraya UK
Now the company has applied to the courts for more time to negotiate with a potential investor and temporarily keep creditors from pursuing legal action.
The UK arm of the company, which recycles waste electrical and electronic equipment at a plant in Wales, has told letsrecycle.com it is not to cease operations.
The company's general manager, Robert Noakes, said: “Investigations are ongoing in Singapore and investors are looking at the company. But the Hirwun plant is working as normal, no employees have been lost and we will continue to be processing CRTs as normal.”
Two weeks ago Citiraya closed down its Scottish site at Irvine, which had acted as a transfer station. The site originally supplied cathode ray tubes to a plant in Singapore, and more recently was supplying CRTs to the plant in Wales.
The Welsh CRT recycling plant is the only facility owned by Citiraya capable of reprocessing CRTs outside of Singapore.
Letsrecycle.com is holding a special conference on the way forward for waste electronics on October 12. For more details see the letsrecycle.com events page
Subscribe for free