The U.S. Treasury Department has issued a major fine to Morgan Stanley for improper management of drives. Executives in the electronics recovery sector say the case reaffirms the warnings they have been giving to corporate partners for years.
The coronavirus has forced e-scrap companies to navigate material supply shifts, tackle new safety concerns and confront wider economic uncertainty. Another complication to add to the list: certification audits.
Samsung is deploying 40 GPS trackers a year to follow the downstream movement of scrap electronics. Processors, including Kuusakoski, have used the devices to track the movement of recovered commodities.
Citing difficult market conditions and rising costs for the industry, California officials will greatly increase the rates they pay e-scrap firms to collect and recycle electronics.
E-scrap company Novotec will be paid up to $14 million to recycle or dispose of over 128 million pounds of CRT materials at former Closed Loop Refining and Recovery warehouses in Ohio, newly released documents show.
E-scrap and ITAD operations are largely falling into the category of essential services amid the coronavirus pandemic. Although that doesn’t mean smooth sailing, it allows recycling facilities to stay open alongside other critical industries.