文档介绍：California Integrated Waste Management Board
Board Meeting
September 16, 2008
AGENDA ITEM 13
ITEM
Consideration Of The Recycling Market Development Revolving Loan Program Application
For Viscotec Corporation (Recycling Market Development Revolving Loan ount,
FY 2008/09)
I. ISSUE/PROBLEM STATEMENT
This agenda item presents for consideration the Viscotec Corporation (Viscotec) application to the Recycling Market Development Revolving Loan Program (RMDZ Loan). Viscotec is requesting a $980,000 loan to finance equipment and extend working capital to operate an agricultural plastic recycling facility in the City of Tulare, California. Viscotec is projecting to hire 30 employees and divert 12,000 tons per year of agricultural plastic waste. The project is located within the Greater South San Joaquin Valley Recycling Market Development Zone.
II. ITEM HISTORY
None.
III. OPTIONS FOR THE BOARD
Approve the RMDZ Loan application for Viscotec Corporation and adopt Resolution Number 2008-149.
Approve the RMDZ Loan application for Viscotec Corporation, with revisions, and adopt Resolution Number 2008-149, as revised.
Take no action and provide staff with further direction.
IV. STAFF MENDATION
Staff mends that the California Integrated Waste Management Board (Board) approve Option 1 and adopt Resolution Number 2008-149.
V. ANALYSIS
A. Key Issues and Findings
Company Background
Viscotec Corporation was incorporated in 2006. Principal owners are two brothers, Pin Juo Chou (President and Chairman) and Pin Yen Chou (Chief Financial Officer and Treasurer). Together, they own 100% of pany.
Another member of the management team is Ron Olivares, Plant Manager.
He has over 18 years management experience in warehousing, sales, marketing and manufacturing practices.
Viscotec is affiliated with Chuang Tieh Plastic Machinery Co. Ltd., a Taiwan-based plastic recycling equipment pany.
In October 2007, the owners entered into a lease agreement for a 80,000 square foo