Aachen, Germany, Jan. 7--The board and shareholders Of Carpet Recycling Europe have decided to close the company and cease operations.
According to the company, it's closing because the its main task has been completed. The company had been formed by the European carpet industry for the purpose of learning more about recycling. Its mission had been fulfilled and it had acquired enough knowledge of the environmental and technical aspects of sorting and recycling carpet.
After the closing of the carpet sorting plant, the board said the company ceased all commercial and administrative activities as of December 31.
According the German law the company will now undergo a liquidation phase of at least one year.
During the year the company said it will complete all outstanding issues.
All future recycling activity will be coordinated through The European Carpet Association.
