Casella Waste Systems, Inc. reported financial results for the third quarter of its fiscal year. For the quarter ended January 31, 2003, the company reported earnings before interest, taxes, depreciation and amortization of $20.2 million; revenue for the quarter was $95.7 million.
“Clearly, the most significant development in the quarter was the implementation of a new, more flexible capital structure,” John Casella, chairman and CEO, said. “We are now well-positioned to execute the next phase of our strategic growth plan. “Our day-to-day priorities remain the continuous improvement of our existing assets and businesses; adding disposal capacity in our core markets, and densifying our existing franchise,” Casella said.
In news announced seperately today, the company also said it will acquire the Hardwick Sanitary Landfill in Hardwick, Massachusetts. The facility, which will serve the company’s eastern Massachusetts markets, is primarily a construction and demolition debris landfill, although it is permitted to accept a limited amount of municipal solid waste. The transaction will close in the fourth quarter.
The facility currently is permitted to accept 300 tons per day, including 50 tons per day of MSW.
“Clearly, this is a significant milestone in our strategic effort not only to add disposal capacity in our core solid waste business, but also to strengthen and improve our eastern Massachusetts operations,” said Casella. “There is an opportunity here to work closely with state and local officials to develop this facility into a crucial part of Massachusetts’ solid waste infrastructure.”Latest from Recycling Today
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