Waste Management Announces Acquisition of Three Recycling Facilities
Waste Management Recycle America’s to purchase facilities in the Mid-Atlantic region
Waste Management, Inc. (NYSE:WM), North America’s largest recycler, today announced that its wholly owned subsidiary Waste Management Recycle America (WMRA) has acquired three recycling facilities in Maryland and Virginia.
The acquisition includes facilities in Baltimore, Maryland and Manassas, Virginia, which were formerly owned by the Canusa Hershman Recycling Company. The other facility in Springfield, Virginia, was co-owned by Canusa Corporation and The Washington Post Company.
The addition of these three sites will enable Waste Management to expand its residential, commercial and institutional recycling services in Maryland, Virginia and the greater mid-Atlantic region. In total, the new facilities will add over 30,000 tons per month of sorting capacity, including a single stream facility.
“The mid-Atlantic region is a highly competitive market, and we are intent on providing our customers in this region with the highest degree of service, including robust recycling options,” said Pat DeRueda, president of WMRA. “Recent performance of the three facilities has been impressive, including their ability to expand operations and grow volumes. We look forward to adding these talented employees to the Waste Management team as we integrate the recycling facilities into our regional operations.”
Ethan Hershman, CEO of Canusa Hershman adds, "It was a difficult decision to sell these facilities, but we’ve teamed up with a great company. I want to thank Jonathan Sloan and the management and employees of these facilities for bringing such enthusiasm and success to CHRC."
This acquisition complements Waste Management other recycling operations and will contribute to Waste Management’s sustainability goal of tripling the amount it recycles to 20 million tons by 2020.
ABOUT WASTE MANAGEMENT
Waste Management, Inc., based in Houston, Texas, is the leading provider of comprehensive waste management services in North America. Through its subsidiaries, the company provides collection, transfer, recycling and resource recovery, and disposal services. It is the largest recycler in North America as well as a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in the United States. The company’s customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more information about Waste Management visit www.wm.com or www.thinkgreen.com.
WM Recycle America is a subsidiary of Waste Management and is the largest recycler in North America. WM Recycle America’s business lines include processing many types of consumer-generated recyclables and finding the best markets for the recyclable commodities produced. In its capacity of providing processing and marketing services, WM Recycle America offers a wide variety of recycling options for municipal, manufacturing, commercial and residential customers.