Casella Waste Systems, Inc. announced it has closed on a transaction selling its commercial recycling assets in Newark, New Jersey.
"Having long ago exceeded our own expectations for our divestiture efforts on our way to becoming once again a pure, traditional solid waste services company, we're nonetheless pleased to complete the divestiture of one of the remaining few non-core assets we've held," John Casella, chairman and chief executive officer of Casella Waste Systems, said.
Over the past several quarters Casella has been divesting itself of what it terms “non-core” assets. In addition to the Newark plant, other operations that the company has sold in the recent past include some manufacturing operations that consumed recyclable materials.
The Newark recycling assets were sold to Waste Management, Inc.
Casella still owns and operates several dozen recycling facilities. However, according to a spokesman for Casella, the Newark facility was outside its region of strength.
Another Casella facility that is being looked at to be sold is its recycling facility in Passaic, N.J.
Casella Waste Systems, headquartered in Rutland, Vermont, is a regional, integrated, non-hazardous solid waste services company providing collection, transfer, disposal, and recycling services primarily in the northeastern United States.Latest from Recycling Today
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