Dungannon based refrigerator recycling company TechRec (NI) Ltd has seen a 50% increase in turnover in 12 months following its participation in an Invest Northern Ireland European cross border business initiative.
TechRec (NI) has secured lucrative recycling contracts and is taking full advantage of commercial opportunities arising from new environmental legislation. The firm, formerly known as COD International, was acquired by Dublin-based TechRec Ireland during the successful collaboration project.
TechRec (NI) has the only refrigerator recycling facility on the island of Ireland. Facilitated by Invest NI, both companies worked in partnership so that Waste Electrical and Electronic Equipment (WEEE) from Northern Ireland could be collected by the Dungannon firm and routed to TechRec Ireland in Dublin, while used refrigerators from the Republic of Ireland could be processed by TechRec (NI) in Dungannon.
Martin O’Hagan, Commercial Director of TechRec (NI) Ltd, said: “Having established ourselves as the only fridge recycling plant on the island of Ireland in 2001, we were in a good position to exploit the local market as European WEEE directives took effect. But by teaming up with TechRec in Dublin, our export customer base and, subsequently, our turnover have soared. We now have a larger pool of technical expertise and greater bidding power for contracts and, in becoming part of the international One51 Group, have further raised our profile.
“Invest NI’s support was invaluable in highlighting TechRec Ireland as a company whose business complemented our own and in helping us make the initial contact which has led to a mutually beneficial and profitable partnership.”
Initial meetings between the firms were facilitated by Invest NI’s Innovation Relay Centre and the Innovation Relay Centre in Enterprise Ireland, both members of a network of centres covering every European country.
John Thompson, Invest NI’s Director of Innovation, Research and Technology, said: “Forming partnerships can help local businesses improve their competitiveness in a variety of ways, such as increasing their access to technology and markets, enhancing their ability to bid for contracts and improving their supply chain.
“Invest NI’s Innovation Relay Centre enabled TechRec (NI) to find and make contact with a Republic of Ireland based company, creating this opportunity. As a result the new company has increased scale and achieved significant growth. It now has a presence in two European markets utilising this important green recycling technology.
“Invest NI’s Innovation Relay Centre is part of a network of 71 centres throughout Europe set up to promote knowledge transfer and collaboration involving businesses or universities in different countries. The centre has an excellent track record of facilitating a number of business collaborations. ”