Recon Technology, a China-based independent solutions integrator in the oilfield service and environmental protection, electric power and coal chemical industries, announced that it has formulated preliminary plans to expand into the plastics chemical recycling business.
Recon decides to enter into this field to catch up with the opportunities presented by technologic innovation as well as on the backdrop of rising price of petroleum as raw material for plastics, increasing difficulties in exploration, and most importantly a deteriorating climate due partially to plastic pollution. The Company is planning to engage in sector of plastic chemical recycling, on the one hand, which fulfills its own corporate responsibility of pursuing the goal of environment protection, and on the other hand, which also gives full play to make use of its industry and technical know-how and advantages. The Company will provide further update on Recon’s initiative when appropriate in the short-term.
