Excel Fortune Holdings is to invest £6m to establish Europe’s largest mobile phone recycling facility in
The total start-up investment, including capital turnover, is estimated to be £15m. The project has also been offered funding by the Welsh Assembly Government.
‘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,‘ said Mike Bandeira, CEO of Excel Fortune Holdings.
‘At our new facilities based in
‘The service will have a significant impact on the way mobiles are re-used and re-introduced to the market, and as an organisation we also hope to help bring about a behavioural change among consumers, regarding the reuse of handsets.’
A 1,115m2 facility will become Excel’s European logistics hub and company headquarters and will have the capacity to handle up to 500,000 mobile handsets per month, once fully operational.
Ninety five per cent of the handsets collected in the
Excel has already established a business in