Close the Loop Background

Established in 2001, Close the Loop has grown to over 100 employees in two countries. It has established a logistics network of over 30,000 active collection points across Australia and is expanding it's collection and processing facilities in the US. Prior to founding CtL, Steve Morriss founded a business that specialized in the sale of imaging supplies, including OEM and remanufactured cartridges. He developed a unique selling proposition to combat the price pressure being applied by large multinational office supplies companies. Steve's offer was to take back and recycle everything he supplied at the end of its life. This was hugely successful and he realized the end user had a strong desire to recycle their cartridge waste. Close the Loop was thus created, with a “zero landfill promise” and a mission to work as partners with the OEMs.

Steve oversaw rapid growth as CEO before handing over the reigns and the top job to Greg Turnidge in late 2006. Prior to taking over as CEO, Greg was a trusted advisor and director of CtL so his intimate knowledge of the business, backed by his proven track record leading big business, made him the perfect choice to succeed Steve and take CtL to the next level.

CtL has continued to enjoy rapid growth, with sales increasing by 115% from $6.9 million in FY 2007 to $15 million in FY 2010. This growth is particularly impressive given the relatively small size of the Australian market for imaging consumables. CtL's management recognizes that it must look beyond the Australian market in order to maintain its rapid growth trajectory. Geographically, Australia is roughly the same size as the contiguous 48 states of the US but the population of the US is 15 times larger than Australia's population. The large US market opportunity was viewed by CtL as the next logical step in its corporate evolution. The decision to expand to the US was also driven by demand.

Steve remains very actively involved with the company today. He is currently heading up the technology and materials division of CtL and remains a director of all CtL companies, including CtL Inc (USA). In this role, Steve's passion for innovation, problem solving, and customer service are best utilized by the company. To date, Steve is the inventor, or co-inventor of numerous patented machines and processes owned by CtL globally, including a world first technology incorporated into our latest toner cartridge processing line in the USA.

Pictured from top right
• Steve officially opening our very first production line, the original Green Machine in Thomastown VIC in August 2002 with then MD of Ricoh Australia, Mr Nigel Shepherd.
  
• Opening the current Australian facility in Somerton VIC in August 2004.
• In October 2008, cutting the ribbon on our first US production line at our Hebron KY facility with Jim Tocash (President CtL USA).

A big thank you. Building a business from a single idea takes a strong and dedicated team of people all working towards a shared vision. The CtL vision has been and is currently being realised by some exceptional people and I would personally like to thank each and every one of you, past and present. To anyone who has contributed, from workers to customers, to shareholders and directors, from advisors, to family, friends, and even the sceptics and those that never thought it would happen, thank you. We are only part of the way on this rewarding journey, but thanks for your valued input to date.

Sincerely, Steve Morriss
(Founder & Executive Director)