Excel Fortune Holdings announced that Europe’s largest mobile phone recycling facility will be built in Wales, UK. Excel has committed GBP (Pounds) 6million for the venture with an estimated total start-up investment, including capital turnover, of GBP15million. A 120,000 sq ft facility will become Excel’s European hub and headquarters. Once finished, the complex will be able to recycle 500,000 mobile handsets per month.
“With Europe currently contributing around 125 million phones per year to a growing stockpile of unused goods, the need to convert them into reusable stock has become increasingly urgent, “commented Mike Bandeira, CEO Excel Fortune Holdings Ltd.
“At our new facilities based in Wales, to be opened in November, we will offer a complete end-to-end solution for the collection, recycle, re-use and distribution of phones that are currently surplus to UK user needs.”
He added, “The service will have a significant impact on the way mobiles are re-used and re-introduced to the market, and as an organization we also hope to help bring about a behavioral change amongst consumers, regarding the reuse of handsets.”
Recycled mobile phones will be refurbished and sold to developing countries like China, India, Dubai and Bolivia. Excel currently has contracts with these countries to supply recycled phones at 60% of the cost of a new phone. Europeans will be encouraged to recycle old hand sets with cash based on the age, model, and condition of the device.