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Ecoark Announces Agreement with Kal-Polymers for Sale of Sable Assets

Thursday, Mar 14, 2019

Ecoark Holdings, Inc. (“Ecoark”), to be renamed Zest Technologies, Inc., (OTCQX: ZEST), an AgTech company modernizing the post-harvest fresh food supply chain, today announced it has reached an agreement with Kal-Polymers, a Canadian company well established in the manufacturing of 100% recycled plastic compounds. Kal-Polymers Americas will acquire the key assets of Sable Polymer Solutions (“Sable”), an indirect wholly-owned subsidiary of Ecoark located in Flowery Branch, Georgia. Kal-Polymers is known for providing solutions for recycling challenging scrap through demetallizing, depainting, cross-linked foam removal, and the processing of multi-layer films.

“We are pleased to announce the sale of Sable key assets to Kal-Polymers, an experienced player in the recycled plastics compounding industry that will benefit Sable customers and suppliers,” said Randy May, CEO of Ecoark. “This month Ecoark will complete our previously announced intention to sell or close subsidiaries considered discontinued operations and allow management to focus and invest in its Zest Labs subsidiary moving forward.”

Gobi Saha, president of Kal-Polymers, stated “the acquisition of Sable allows us to better serve our existing customers in the United States and expand our customer base to those served by Sable. We are looking forward to a long-term continued partnership with Sable customers and suppliers as we integrate the Sable team into Kal-Polymers. We are already investing in equipment enhancements at Sable that will facilitate significantly expanded sales and purchases making this world a greener place.”

 

Source: globenewswire.com

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