Sept 23, 2012 (LBO) – A Dena Nano Technology Lanka Pvt Ltd, company with British and Indian investment plans to recycle old automobile tyres into wood replacement material for the construction industry, a media report said. Dena Technology of UK has patented technology to make wood-like products for the construction industry from old tyres which are more durable and water resistant wood, Sri Lanka’s The Sunday Island newspaper said.
UK-based Dena Technology Limited will have a 20 percent equity stake in the firm and Dena Nano Technology Pvt Limited of India 10 percent, the report quoted managing director K. Ketheeswaran as saying.
The plant is expected to cost 5 million sterling pounds.
The British partner in addition to providing the technology will also support the sale of products to their clients in Europe and the Middle East.
Old tyres are an environmental problem in many countries as they do not degrade quickly and emits toxic fumes when burnt.