Casella Waste Systems, Inc. Says Landfill Zoning Article in Hardwick, Mass. Falls Short of Two-Thirds Majority in Town Vote
30 January 2007 - 9:55AM
PR Newswire (US)
RUTLAND, Vt., Jan. 29 /PRNewswire-FirstCall/ -- Casella Waste
Systems, Inc. (NASDAQ:CWST), a regional, non-hazardous solid waste
services company, today said that a zoning amendment it proposed
for its Hardwick, Massachusetts landfill failed to gain the
required affirmative two-thirds of the votes cast at a recent town
meeting. Over 54 percent of the town's voters approved the zoning
article, which would have created a special landfill district.
Zoning by-laws in Hardwick require a two-thirds majority for
successful passage of zoning articles. The company also indicated
that the Hardwick, Mass. zoning enforcement officer has informed
the company that he will order the landfill closed as early as
February 4, 2007. The company said it is pursuing legal options and
considering other appropriate steps to keep the landfill, which has
a carrying value of approximately $25 million, operating as a
regional waste disposal resource. The company has filed several
appeals of decisions made by the Hardwick Zoning Board of Appeals
which remain pending in Massachusetts Land Court. The company
indicated that it expected no material impact on the company's
fiscal year 2007 revenues if or when the Hardwick landfill ceases
to accept waste. "In spite of this roadblock, our record of
accomplishment with regard to disposal capacity development has
been outstanding since 2003," John W. Casella, chairman and chief
executive officer of Casella Waste Systems, Inc., said. "Four out
of five (the fifth being Hardwick) of our major disposal projects
have been successful, and we've added over 57 million tons of
capacity in that time frame." For further information, contact
Richard Norris, chief financial officer; Ned Coletta, director of
investor relations; or Joseph Fusco, vice president; at (802)
775-0325, or visit the company's website at
http://www.casella.com/. Safe Harbor Statement Certain matters
discussed in this press release are "forward-looking statements"
intended to qualify for the safe harbors from liability established
by the Private Securities Litigation Reform Act of 1995. These
forward-looking statements can generally be identified as such by
the context of the statements, including words such as the Company
"believes," "anticipates," "expects" or words of similar import.
Similarly, statements that describe the Company's future plans,
objectives or goals are forward- looking statements. Such
forward-looking statements, and all phases of our 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 our forward-looking statements. Other factors which
could materially affect such forward-looking statements can be
found in our periodic reports filed with the Securities and
Exchange Commission, including the Risk Factors section in our Form
10-K for the fiscal year ended April 30, 2006. DATASOURCE: Casella
Waste Systems, Inc. CONTACT: Richard Norris, chief financial
officer, or Ned Coletta, director of investor relations, or Joseph
Fusco, vice president, +1-802-775-0325, all of Casella Waste
Systems, Inc. Web site: http://www.casella.com/
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