The waste management and recycling industry is one of the fastest growing industries in the business world. As countries look for ways to change their infrastructure to support new green technologies or to increase recycling rates businesses are popping up all over the world to fill the need. Most world leaders believe that environmentally friendly technology will create millions of jobs and is likely to be the best way to not only help the environment but to stimulate the slumping world economy. Not only are new businesses being developed every day but businesses that were already involved in the waste management and recycling industry are looking for ways to expand their offerings and grow physically and financially. One such company is Rank Metal, a UK metal recycler that recently expanded its business into many other parts of the world.
Rank Metal recently announced that it had made a twenty million dollar trade facility agreement with the Middle East and the Bank of London. This financing agreement will enable Rank Metal to expand its metal recycling schemes all over the world. The bank will give Rank Metal twenty million dollars which they will then use to purchase metals from around the United States, Europe, and the Middle East. The bank will finance the majority of the purchase of the scrap metal while Rank Metal will provide the remainder and pay back the loan with the profits. This will allow Rank Metal to process more than forty thousand tonnes of scrap metal every month.
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