The partnership will bring together SK tes's expertise in electronic waste recycling and ITAD services with SMG's extensive network and capabilities across various sectors, including automotive, construction, and industrial services.
September 11, 2024, Bangkok, Thailand – SK tes, a global leader in sustainable technology solutions and electronic waste recycling, and Siam Motors Group (SMG), a diversified conglomerate in Thailand, have signed a Memorandum of Understanding (MoU) to explore opportunities for establishing a circular economy business partnership focused on electronic waste and information technology asset disposition (ITAD) in Thailand.
The partnership will bring together SK tes’s expertise in electronic waste recycling and ITAD services with SMG’s extensive network and capabilities across various sectors, including automotive, construction, and industrial services. This collaboration aims to create a sustainable business model for managing and recycling end-of-life electronic assets, contributing to the global effort of reducing the environmental impact of electronic waste.
Under the terms of the MoU, SK tes and SMG will jointly explore business opportunities in recycling electronic equipment, data center assets, lithium-ion battery, and other end-of-life technology products. The partnership is expected to deliver innovative solutions that address the growing demand for environmentally responsible electronic waste management in Thailand and the wider region.
Key Highlights of the Collaboration Include:
- Joint Development of Business Plans: SK tes and SMG will collaborate on a comprehensive business plan that identifies opportunities for recycling and managing electronic scrap and IT assets, contributing to the circular economy.
- Formation of a Joint Working Team: A joint working team consisting of representatives from both companies will be established to oversee the project and drive collaboration efforts.
- Exploration of Further Strategic Partnerships: The MoU provides a framework for further strategic partnerships and formulation of new partnership invested by each party in the circular economy space.
Luc Bernardus Scholte van Mast, Managing Director of SK tes, said, “This collaboration represents a significant step forward in our mission to provide sustainable and innovative solutions for managing technology assets. By partnering with Siam Motors Group (SMG), we aim to expand our capabilities in the region and contribute to building a more sustainable future.”
Prakasit Phornprapha, President of Siam Motors, added, “Siam Motors Group is committed to driving sustainability across our business sectors. By joining forces with SK tes, we will be able to leverage our expertise and resources to create impactful solutions for electronic waste management in Thailand.”
The MoU signifies the beginning of a long-term partnership between SK tes and SMG, with plans to develop a feasibility study and evaluate investment opportunities over the coming months. The collaboration aligns with both companies’ shared commitment to sustainability and the circular economy.
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