The Global View

Renault joins €100 million car recycling venture

recycle3.jpgThe details are a bit light on this one, so Greenbang will just bring you what she can. Possibly with a cup of tea and a lemon slice, if she’s feeling generous.

A few press outlets are reporting that Renault is getting into bed with Sita, a division of waste company Suez, to create a car recycling venture, with the venture then taking over a majority stake in car-recycler Indra.

The whole thing is planned to cost around €100 million and the companies are hoping to cash in on European Union requirements that stipulate 95 percent of cars be recycled.