- Covanta Environmental Solutions, a subsidiary of Morristown, NJ-based Covanta, has acquired a material processing facility in Augusta, GA from US Ecology Inc. The acquisition will allow Covanta to expand in the Southeast, where it already has various facilities in North Carolina, Florida, and Alabama.
- The material processing facility provides shredding, nonhazardous waste solidification, water treatment, and transportation services to various commercial and industrial customers, according to a press statement.
- Terms of the transaction were not disclosed.
"We are pleased to acquire an asset that enables us to enhance our portfolio of capabilities and solutions to meet the needs of customers throughout the Southeast," said Greg Russell, vice president and general manager of Covanta Environmental Solutions East Region, in a press statement.
Just last week, Covanta CEO Stephen Jones told The Street about the company's growth as a leading waste-to-energy supplier, and how big corporations with zero-landfill policies are helping to drive business. This most recent acquisition is proof of the company's growth and its desire to expand in the marketplace—especially in a state where the company does not have much of a presence.
Moving forward in 2016, Covanta is focused on implementing and tracking workplace safety culture performance metrics, ensuring 100% compliance limits at facilities, and executing sustainable waste management efforts with a push to reduce greenhouse gases, according to the company's third sustainability report.