Casella Waste Systems Acquires Al’s Maintenance in Rochester, New York
04 December 2018 - 12:32AM
Casella Waste Systems, Inc. (NASDAQ: CWST), a regional vertically
integrated solid waste, recycling and resource management services
company, announced today that it has acquired the assets of Al’s
Maintenance (“Al’s”) on December 1, 2018.
Al’s is a provider of residential and roll-off collection
services in the Rochester, NY market. The Company expects to
generate approximately $7 million of annualized revenues from the
Al’s acquisition.
“With the acquisition of Al’s, we have acquired roughly $77
million of annualized revenues during 2018,” said John W. Casella,
Chairman and CEO of Casella Waste Systems, Inc.
“The Rochester market is an important strategic market for us,
as it is a major population center that is near three of our
Western New York landfills,” Casella said. “We are excited about
the Al’s acquisition as it will integrate well with our existing
operations in the Rochester market by allowing us to build further
route density, drive operational and back-office efficiencies, and
internalize additional waste to our disposal sites.”
“The Al’s team has built an outstanding business that is well
regarded by its customers, has solid operational performance and an
excellent team,” Casella said. “We welcome the hard-working team
from Al’s to Casella, and we look forward to their help in driving
the integration of our Rochester operations.”
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 are
“forward-looking statements”. These forward-looking statements can
generally be identified as such by the context of the statements,
including words 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 Company may not fully
recognize the expected financial benefits from its acquisitions due
to an inability to recognize operational cost savings, general and
administration cost savings, market factors, landfill
internalization benefits, or due to competitive or economic factors
outside our control which may impact revenue and costs, or for
other reasons, and we may be unable to achieve our acquisition
goals as part of the 2021 strategic plan due to competition for
attractive targets or an inability to reach agreement with
potential targets on pricing or other terms. 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, 2017, 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 Coletta |
|
Chief Financial
Officer |
|
(802) 772-2239 |
|
|
Media: |
|
Joseph Fusco |
|
Vice President |
|
(802) 772-2247 |
|
http://www.casella.com |
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