A settlement has been reached in the 2024 lawsuit Shercom Industries filed against the provincial government and the Tire Stewardship of Saskatchewan,

Under terms of the settlement, Shercom will receive $4.8 million and acknowledges that it will have no further claims related to any matters raised in the lawsuit.

The provincial government announced the settlement in a news release which also states the settlement is not an admission of liability. Other details of the settlement are confidential.

Shercom took the provincial government and the Tire Stewardship of Saskatchewan—a non-profit organization that oversees scrap tire processing— to court for alleged breaches of contract and unfair exclusion from the provincial tire recycling market.

Shercom laid off employees after failing to secure processing scrap tire contracts, with those being awarded to a U.S. based company.