There are a number
of reports that Casella Waste Management, will be announcing the sale of a
number of its facilities and divisions. According to several sources, the
company, which has scheduled a conference call on Wednesday Nov. 22, could be
announcing a decision to sell of a number of its recycling-related operations.
These sales possibly include their brokerage operations, recycling facilities,
insulation operations and other operations. Casella is a Rutland, Vt., based
recycling and solid waste management company.
Similar to many of
the larger waste management concerns, Casella Waste Management sought to grow
its business through acquiring many ancillary businesses, including recycling
operations, insulation manufacturers, plastics recycling companies, etc.
However, similar
to many other waste management companies Casella has had a difficult time
blending its recycling operations with its solid waste business. The company’s
stock, similar to WMI and Allied Waste, has fallen sharply.
To improve
shareholder value the company has been considering jettisoning off non-core
businesses. The expectations are that the company’s recycling operations would
be a likely candidate for either a sale or spin off.
The
company is heavily concentrated in the Northeast, although it also has
operations in the Midwest and the Southern U.S.
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