March 11, 2010

Big Loss for Recycling Business

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By KSEE News

Story Published: Jan 6, 2009 at 10:51 PM EST

Story Updated: Jan 7, 2009 at 11:03 AM EST

Recycling has been a way a life for many years but, the business behind the movement is in trouble.

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Experts say the global financial crisis finally caught up with US recycling businesses which rely heavily on the sale of processed materials to companies in China.

Items that once fetched good prices, like aluminum, paper, plastic and steel dropped in value, some by as much as 75% in the past three months.

Analysts say the decline in price is not a reflection of demand.

Companies overseas still need recycled materials, but most can no longer afford the cost of doing business and with the state of the global economy, looking to banks for financing isn't a solution.

Click on the link to see the full report of KSEE 24's visit to Fresno recycling facility, Sunset Waste Systems.

Next article Hot Ticket: Valley Events March 11-14

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Wednesday, Jan 7 at 1:11 PM ec-women wrote ...

that type of loss is going to affect many people. many use recycled money for gas, food mostly. now what are people going to count on.

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