HILVERSUM, THE NETHERLANDS — (Marketwire) — 04/20/12 — READEN HOLDING CORP (PINKSHEETS: RHCO) announced that Moho-Telecom a 100% subsidiary of Readen Holding Corp started a new joint venture.
Readen-s subsidiary Moho-Telecom and Zwipit (), a company based in the Netherlands that focuses on mobile phone reuse & recycling, have signed a cooperation agreement for developing the Zwipit concept in the Netherlands, Belgium and France.
Zwipit is a specialist and one of the world leaders in collecting and processing of consumer electronics products (e.g., cell phones) with operations in several countries in Europe. Zwipit collects used phones and gives them a second life elsewhere thus reducing electronics waste and production and increase the product-s lifespan.
In the first year of operation an additional turnover of 2,100,000 Euro is forecasted and more than 39,600 kg of handsets, batteries, chargers and accessories will be recycled and diverted from potentially ending up in landfill.
Moho-Telecom will start offering the Zwipit recycle service to their customers in the Netherlands as of May 1st 2012. In Belgium and France parties will set up a joint venture for development of their recycle business. Moho-Telecom will act as Zwipit-s exclusive representative in these two territories. By making use of Moho-Telecom-s retail network and related websites over 2700 collection locations for used phones will be in place before the 1st of October 2012.
Our objective is to become Western Europe-s largest and most trusted mobile phone recycler and as a designated waste handler we take our responsibilities very seriously.
Don-t keep it Zwipit.
Readen Group-s mission statement is to be a valuable partner for customers in terms of technical flexibility, quality and competitive pricing through the complete value chain (SIM cards, mobile phones and applications).
This press release may contain forward-looking statements, including, but not limited to, statements regarding Readen Holding Corporation and its plans, products and related market potential. Forward-looking statements may be identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential” or “continue” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Readen Holding Corporation-s postings on the OTC Markets Disclosure & News Service and future filings with the Securities an Exchange Commission, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Readen Holding Corporation undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.
Contacts:
Readen Holding Corp.
Ronald Steenbergen
+31 3562 99970
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