Casella Waste Systems Confirms Discussions Regarding Maine Energy Recovery Facility
06 April 2012 - 4:30AM
Marketwired
Casella Waste Systems, Inc. (NASDAQ: CWST), a regional
vertically-integrated solid waste, recycling and resource
management services company, confirmed today that it is in
continuing discussions with the City of Biddeford and the State of
Maine regarding its Maine Energy Recovery Facility. As Casella has
previously disclosed, the Company has been exploring a possible
sale of the MERC facility for some time. As was reported today, the
Company has entered into a non-binding letter of understanding with
the City of Biddeford for the possible sale of the facility to
Biddeford. The terms of that potential transaction include a cash
component of $7.5 million dollars, expected to be paid over time.
This cash component is only one part of an overall proposal, which
would include Casella's acquisition of the Juniper Ridge Landfill
from the State of Maine. Any transaction will be based on a
determination by the Company that the overall transaction
represents fair market value for the MERC facility. There can be no
assurances that the parties will ultimately reach an agreement with
respect to these matters. The Company does not intend to make
further statements regarding the potential transaction unless and
until a definitive agreement is reached.
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, vice president
of finance and investor relations at (802) 772-2239, and media
should contact Joseph Fusco, vice president, at (802) 772-2247. The
company's website is casella.com.
Investors: Ned Coletta Vice President of Finance and Investor
Relations (802) 772-2239 Media: Joseph Fusco Vice President (802)
772-2247 http://www.casella.com
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