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Waste Business Journal Weekly News Bulletin: Sep. 4-10, 2007

Headlines...

  1. North Carolina Passes Tougher Landfill Measures and E-Waste Law
  2. BFI Canada and IESI Buy Long Island Hauler; Expanding in New York
  3. Waste Connections Buys Operations in Colorado
  4. Allied Waste Will Record Non-Cash Charge of $40 Million
  5. "Mob Tax" Man Will Stay Home for a While
  6. Tire Recycler Raises $7 Million in Venture Financing
  7. Oklahoma DEQ and Judge Order Closure of Tulsa Sanitary Landfill
  8. Veolia Reports That Revenues and Profits are Up 11% in First Half
  9. Steel Recycling Holds Strong despite Inventory Crunch
  10. Casella to Release First Quarter 2008 Earnings and Host Conference Call

 

  1. North Carolina Passes Tougher Landfill Measures and E-Waste Law

    As expected, North Carolina Governor Mike Easley signed into law efforts by state legislators and others to toughen landfill regulations and further hinder out-of-state waste imports. The Solid Waste Management Act of 2007 also requires computer makers to recycle the components they sell in North Carolina. Under the act, landfills must be at least 200 feet from streams and more than a mile from state game land, two miles from a state park and five miles from a national wildlife refuge. It further imposes a $2-per-ton tax for waste disposal at landfills to fund the cleanup of abandoned dumps, hazardous-waste sites, and waste management by local authorities. At least four proposed landfills in eastern North Carolina would potentially draw waste by truck, rail and waterway from points up and down the East Coast, turning the state into one of the nation's top five importers of waste...Read More »

  2. BFI Canada and IESI Buy Long Island Hauler; Expanding in New York

    BFI Canada and its subsidiary, IESI, is shoring up its strength in the New York City market with its recent acquisition of Long Island-based Winters Bros. Waste Systems, Inc. That company provides waste collection and processing services to residential, commercial and industrial customers primarily on Long Island where it operates eight transfer stations. "Winters Bros. represents an extremely strategic opportunity for our company," said Keith Carrigan, Vice Chairman and Chief Executive Officer of the Fund. "This accretive acquisition will allow us to more effectively utilize our existing assets in the northeast U.S."...Read More »

  3. Waste Connections Buys Operations in Colorado

    Waste Connections reports having purchased certain operations in Colorado from U.S. Waste Industries Inc. The acquired properties, which primarily serve the Colorado Springs, Pueblo and Cannon City markets, include four collection operations, three transfer stations and two landfills. Collectively, they generate about $30 million in yearly revenues. "This acquisition further expands our footprint in attractive new markets and almost doubles our existing presence in Colorado," said Ronald J. Mittelstaedt, chairman and CEO. "The combination of vertically integrated operations and strong market shares provides us a strategic platform to seek additional growth opportunities in those markets."...Read More »

  4. Allied Waste Will Record Non-Cash Charge of $40 Million

    Allied Waste Industries said that it has completed its previously announced transaction with Veolia ES Solid Waste, Inc. in which it has sold to Veolia certain solid waste landfill and collection assets in the east-central and southeastern United States for $86 million. Allied also said that it expects to record a non-cash charge of $40 million to $45 million, primarily related to goodwill related to the sale...Read More »

  5. "Mob Tax" Man Will Stay Home for a While

    A federal judge sentenced Joseph J. Milo Jr., who had been accused of collecting "mob tax" payments for the Genovese crime family, to two years probation including six-months of house arrest. He had pleaded guilty to illegally having held a no-show job with James Galante's Automated Waste Disposal Company of Danbury, CT for six years. Galante and 28 others were indicted last year by a federal grand jury in New Haven for orchestrating a "property rights scheme" to allocate hauling contracts and collude on pricing, with physical threats to non-compliers...Read More »

  6. Tire Recycler Raises $7 Million in Venture Financing

    A Bellevue, Washington startup called Reklaim Technologies has raised $7 million in venture financing from Goldman Sachs to help recycle some of the 300 million waste tires generated annually in the U.S. The company, which was founded in 2003, has not yet recycled any tires but has recently received a land-use permit for a 5-acre parcel at the Port of Morrow on the Columbia River in north-central Oregon, where it hopes to open a $50 million tire-recycling facility next year...Read More »

  7. Oklahoma DEQ and Judge Order Closure of Tulsa Sanitary Landfill

    The Oklahoma Department of Environmental Quality announced the ordered closure of the North Tulsa Sanitary Landfill. According to the DEQ, Tulsa County District Judge Daniel Owens ruled that a permanent injunction calling for the landfill's closure in July remain in full effect. The landfill had not been in compliance with its permit and missed an agreed to deadline to construct a new cell, the penalty for which was closure...Read More »

  8. Veolia Reports That Revenues and Profits are Up 11% in First Half

    Water, waste and energy services company Veolia Environnement SA said that profits for its first six months had risen 11% after winning new orders and making acquisitions. Net income for the six months through June 30 rose to US$670 million from US$604 million in the same period last year. Revenues in the first half rose 10.9% to US$21.19 billion. The company expects full year revenues and operating income to increase by 12% for the full year. The company has made four acquisitions totaling US$4.4 billion in less than a year and says that it expects total investments in acquisitions, maintenance and new contracts during 2007 to reach between $8-8.6 billion...Read More »

  9. Steel Recycling Holds Strong despite Inventory Crunch

    Steel remains as the world's and America's most recycled material according to the Steel Recycling Institute (SRI). In 2006, 68.7 percent of all scrap steel translating into 72 million tons of material was recycled. Increased global demand for steel is driving up the price while inventories are at the lowest level since World War II. The increased pricing incentive is leading many communities across the country to step up their collection efforts, notably New York, Portland, and Seattle. Steel cans, as well as steel intensive appliances, automobiles and construction materials continue to hold at, or near, historic highs in 2006. Naturally, most durable consumer goods and construction materials are not available for recycling since they remain in service for many years...Read More »

  10. Casella to Release First Quarter 2008 Earnings and Host Conference Call

    Casella Waste Systems will release financial results for its first fiscal quarter of 2008, ended July 31, 2007, after the close of markets on Wednesday, September 5, 2007. Management will host a conference call at 10 a.m. ET the following day to discuss those results...Read More »

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