EXCLUSIVE: Cartridge World Letter Sent to 1200 Masters and Franchisees

From left to right: Bill Swanson, Global CFO of Cartridge World; Rod Young, Global CEO of Cartridge World

Recycling Times Media has been provided an exclusive copy of the letter being sent to all Cartridge World franchise store owners, franchisee masters and team members. The letter dated June 2 advises them of new shareholder arrangements.  Entitled “Developments at Cartridge World” Cartridge World Chairman Rod Young and CFO Bill Swanson detail the new shareholder arrangements with SuZhou Goldengreen Technologies (SGT) and its Founding Chairman Dr. Richard Yu.

As a result of the new shareholder arrangements, Young declares the capital base of Cartridge World to be sound, the recapitalised company has no debt, and senior management are now focused on the growth of the network, the welfare of our franchise owners, and the success of the Cartridge World system and its customers.

Young instructed his global executive team to get this latest letter out to the Cartridge World network. “Could you get this out ASAP to our franchise owners and masters in your respective regions in the same way you each sent out our last communication. We will also be forwarding this to Recycling Times to provide background to a press release we have provided.”  Young says that his letter is self-explanatory and is the culmination of a journey that started over 12 months ago.

Young also said “We do not expect to see substantive changes in the short term but will be conducting a strategic review to determine how best to leverage the expertise and manufacturing capability of SGT.”

Subject: Developments at Cartridge World

To: All Cartridge World Franchise Owners, Master Franchisees and Cartridge World Team Members.

Further to my previous letter, Bill Swanson and I are delighted to announce that the transition to a new shareholder structure and the recapitalisation of Cartridge World has been completed.

SuZhou Goldengreen Technologies (SGT) has become a shareholder of Cartridge World.

SGT is at the forefront of robotics manufacturing technology in the imaging industry and one of the world’s largest manufacturer and supplier of high quality OPC drums to OEM and aftermarket manufacturers.

The company has recently released further industry-leading patented technology.

The SGT group is also investing in further upstream and downstream manufacturing facilities to enable the production of consistently high quality, high performance laser cartridges.

It’s founder and Chairman, Dr. Richard Yu, has a significant engineering background in the imaging industry in Singapore and China. Richard and his team have built SGT into the largest manufacturer in its segment in China and one of the world’s major players in this market and we are delighted to have Richard involved in our business.

What does this mean to you as a Cartridge World stakeholder?

Many of the cartridges our franchise owners are selling today contain SGT components and technology so you can be comfortable that the CW branded products you buy will not be compromised.

This manufacturing and technical expertise will support our drive to supply better, more consistent quality products to our franchise owners and customers. This means you can continue to be confident of the Cartridge World branded product and its provenance in an environment where patent-infringing aftermarket products, and variability of quality have the potential to destroy your business.

The combination of the Cartridge World team and the technical and manufacturing expertise of SGT will provide stable, experienced and committed management and shareholders with skin in the game just like you, and a shareholder-supplier aligned with the success of our network that will add further to the choice of products we sell.

The combination of SGT’s substantial expertise and depth of technology in the OEM and aftermarket imaging manufacturing industry combined with the Cartridge World network of over 1000 stores will position us as the world’s only fully integrated OEM and aftermarket print services supplier.

Our capital base is sound, the recapitalised company has no debt, and we are focused on the growth of the network, the welfare of our franchise owners, and the success of the Cartridge World system and its customers.

The future of our company and the opportunities for our network are extremely promising.

Rod Young
Chairman, Cartridge World

Related Links:

EXCLUSIVE NEWS: SGT Becomes a Shareholder of Cartridge World

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