Dec 10 (Reuters) — Private-equity firm Olympus Capital Asia said it would invest $45 million for an undisclosed stake in Hong Kong-based Li Tong Group (LTG), which recycles mobile phones, game consoles and other electronic equipment for global technology companies.
LTG, which was founded in 2000, has 20 plants around the world, including in China, the United States and Japan, with major clients such as Apple Inc, Microsoft Corp and Lenovo Group Ltd.
LTG plans to use the funds to expand its U.S. facilities as well as those in mainland China, Hong Kong, India and Brazil.
The investment comes as electronic waste from mobile phones, computer hardware and other devices is expected to grow 18.3 percent a year during 2010-2017 and reach 43.8 million tonnes, Olympus said in a statement on Thursday.
The recycling market for consumer electronic waste is seen totalling $15 billion in 2016 and $18 billion in 2017, while that for industrial waste is seen at $5 billion and $6 billion for the next two years, respectively, the company added.
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