Identity Theft Concerns, Recycling Initiatives Boost Shred-Tech Revenues in 2007, with Significant Growth Planned for 2008
Industry-leading shredding manufacturer grows revenues by double digits in 2007, plans to add new locations and products
Cambridge, ON – January 31, 2008 – Shred-Tech, a world leader in information destruction and reduction systems including mobile and in-plant shredding, today announced that it has significantly increased its business in 2007 and plans to add new locations and products in 2008. The company reported revenues topping $60 million in 2007. With strong, double-digit growth rates, Shred-Tech projects annual revenues approaching $70 million in 2008.
“Our significant investment in research and development keeps us on the cutting edge of building top-of-the-line destruction and reduction systems,” said Shred-Tech CEO Robert Glass. “These systems facilitate our mission to directly address environmental concerns and eliminate risks involved with identity theft while providing solid business opportunities for entrepreneurs nationwide.”
Due to its customers’ level of success and demand, Shred-Tech launched several new products in 2007, including three shredding trucks and a collection truck. To follow suit, Shred-Tech has expansive growth plans for 2008, including opening a new facility and unveiling three new shredding systems. The company is scheduled to open a new service facility in Los Angeles, which will service both mobile and in-plant shredding equipment. In the next three to five years, Shred-Tech’s goal is to be within two hours of 90 percent of its U.S.-based customers. Several new products will be unveiled this year, which include:
- MDS-15GT (more economical shred truck)
- DDS-35 (in-plant paper shredding system)
- BCS-50 (beverage container recycling system)
As one of the industry’s leading document destruction system manufacturers and a pioneer in the document destruction industry, Shred-Tech is recognized globally for its innovative products and solutions and commitment to quality, customer service and environmentally-conscious practices. Shred-Tech has invested $12 million over the past 7 years into research and development, with $2.5 million alone in 2007.
Shred-Tech is a world leader in the design and manufacturing of mobile and plant-based document destruction and recycling systems. Based in Cambridge, Ontario, Shred-Tech prides itself in manufacturing quality shredding products, providing environmentally-friendly and profitable business opportunities for entrepreneurs and a solution to identity theft. The company manufactures nearly 200 mobile shredder trucks a year and in 2008 will have approximately 2,000 of its trucks on the road in North America. For more information about Shred-Tech, visit www.shred-tech.com.