Casella Waste Systems Announces Signing of Asset Purchase Agreement
June 21 2019 - 08:15AM
Casella Waste Systems, Inc. (NASDAQ: CWST), a regional vertically
integrated solid waste, recycling and resource management services
company, announced today that it has signed an Asset Purchase
Agreement to purchase select solid waste assets in Albany, NY and
Cheshire, MA from certain subsidiaries of Republic Services, Inc.
The target assets to be acquired generate approximately $30
million of annualized revenues. The transaction is expected
to close by the end of the third quarter and remains subject to
customary conditions precedent to closing.
“We are excited to work with Republic and their employees to
successfully close this acquisition in an efficient manner,” said
John W. Casella, Chairman and CEO of Casella Waste Systems,
Inc. “These markets are a natural fit to our existing
operations, and we look forward to welcoming Republic’s
hard-working employees to our team and maintaining the same
excellent service standards for their customers.”
About Casella Waste Systems, Inc.
Casella Waste Systems, Inc., headquartered in Rutland, Vermont,
provides solid waste management services consisting of collection,
transfer, disposal, and recycling services in the northeastern
United States. For further information, investors should
contact Ned Coletta, chief financial officer at (802) 772-2239, and
media should contact Joseph Fusco, vice president at (802)
772-2247, or visit the company’s website at
http://www.casella.com.
Safe Harbor Statement
Certain matters discussed in this press release, including, but
not limited to, the statements regarding the expected timing for
completing the proposed acquisition of the collection and transfer
assets, are "forward-looking statements". These forward-looking
statements can generally be identified as such by the context of
the statements, including such as “believe,” “expect,”
“anticipate,” “plan,” “may,” “would,” “intend,” “estimate,” "will,"
“guidance” and other similar expressions, whether in the negative
or affirmative. These forward-looking statements are based on
current expectations, estimates, forecasts and projections about
the industry and markets in which the Company operates and
management’s beliefs and assumptions. The Company cannot
guarantee that it actually will achieve the plans, intentions,
expectations or guidance disclosed in the forward-looking
statements made. Such forward-looking statements, and all phases of
the Company’s operations, involve a number of risks and
uncertainties, any one or more of which could cause actual results
to differ materially from those described in its forward-looking
statements. Such risks and uncertainties include or relate
to, among other things: the conditions to closing of the
proposed acquisition may not be satisfied on the expected timing or
at all; the expected financial benefits from the Company’s
acquisitions may not be achieved in a timely manner or at all; and
competitive or economic factors outside of the Company’s control
may impact revenue and costs.
There are a number of other important risks and uncertainties
that could cause the Company’s actual results to differ materially
from those indicated by such forward-looking statements.
These additional risks and uncertainties include, without
limitation, those detailed in Item 1A, “Risk Factors” in the
Company's Form 10-K for the fiscal year ended December 31,
2018, and in other filings that the Company may make with the
Securities and Exchange Commission in the future.
The Company undertakes no obligation to update publicly any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
Investors:Ned ColettaChief Financial Officer(802) 772-2239
Media:Joseph FuscoVice President (802) 772-2247
http://www.casella.com
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