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PURE TECH INTERNATIONAL, INC. ENTERS INTO LONG TERM SUPPLY AGREEMENT FOR POST-CONSUMER PET PLASTICS; DOUBLES ITS PLASTICS RECYCLING CAPACITY

 SOMMERSET, N.J., Feb. 5 /PRNewswire/ -- Pure Tech International, Inc. (NASDAQ-NMS: PURT; NASDAQ: PURTZ; BSE: PUR), today announced the closing of an agreement to purchase the PET post-consumer processing equipment from Resource Recycling Technologies, Inc. (AMEX: RRT), located in Trenton, N.J.
 Pure Tech also announced the signing of a long term multi-million pound PET post-consumer supply agreement. With acquisition of the RRT equipment, Pure Tech will assume the operations of the Trenton facility, and effectively double its plastics recycling capacity.
 David Katz, president of Pure Tech International, stated, "The purchase and supply agreement is a multi-year, multi-million pound contract under which it is expected that Pure Tech will purchase up to an additional 26 million pounds of post-consumer PET each year of the agreement. This additional supply stream will allow the company to continue to supply our existing customer base and further allow the company to service several new customers who have placed larger orders for 1993 and 1994."
 Pure Tech further announced that its annual plastics recycling capacity has doubled to over 5 million pounds per year and that the majority of the post-consumer PET purchased under the supply agreement with RRT will initially be recycled at the company's recently expanded 140,000-square-foot facility located in Springfield, Mass. Simon Sinnreich, chairman of Pure Tech International, Inc., added, "The company will move expeditiously to upgrade the new Trenton facility and will shortly begin operations utilizing the recycling equipment purchased in the RRT transaction. The Trenton facility, completed in July of 1992, is nearly brand new and has an annual capacity of 26 million pounds per year. With the exceedingly strong demand for the company's high quality PET production, we expect that this acquisition and supply agreement will give Pure Tech a strong hold in the New York Metropolitan area."
 Mr. Sinnerich continued, "RRT is a leading developer and operator of multi-material recycling facilities, marketing over 300,000 tons of materials in 1992, and their ability to source PET for Pure Tech is strategic to the company's ability to meet increasing demand for our products. We are continuously looking to expand our supply base and will seek out appropriate acquisitions, joint ventures and/or long term supply agreements as opportunities present themselves."
 Pure Tech International, Inc. is engaged in the recycling of post- consumer containers made of aluminum, steel and plastic and operates recycling facilities in the states of New Jersey, Connecticut, Michigan and Massachusetts.
 -0- 2/5/93
 /CONTACT: Mike Rietbrock or Davis Weinstock II of Clark & Weinstock Inc., 212-953-2550, for Pure Tech/
 (PURT RRT)


CO: Pure Tech International, Inc.; Resource Recycling Technologies,
 Inc. ST: New Jersey IN: SU: TNM


GK-OS -- NY029 -- 3557 02/05/93 13:22 EST
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Feb 5, 1993
Words:450
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