Friday, March 27th16.9°C
25657
25546

Progressive Waste acquires stake in specialty recycler TerraCycle

TORONTO - Progressive Waste Solutions Ltd. (TSX:BIN) has acquired a 19.9 per cent interest in TerraCycle Canada, a specialty recycler that collects items such as cigarette butts, coffee capsules and drink pouches — sometimes as part of local fundraising campaigns.

Financial terms of the friendly deal weren't been announced by the companies in their joint announcement Wednesday.

"TerraCycle demonstrates the ability to engage manufacturers, retailers and, most importantly, millions of consumers in recycling otherwise non-recyclable waste streams," said Joseph Quarin, the president and CEO of Progressive Waste Solutions.

Part of TerraCycle's business plan includes free recycling fundraisers through about 20,000 schools and community groups across Canada.

TerraCycle also has corporate sponsorships from companies such as Maple Leaf Foods, the Mr. Christie's cookie brand, Nespressoa coffee brand and Garnier, maker of beauty products.

Under the new partnership, Progressive Waste — one of Canada's largest waste-management companies — will offer TerraCycle's premium recycling services in its contract bids.

Tom Szaky, TerraCycle's founder and chief executive, said the two companies share a vision of diverting more materials from landfills and incinerators and his company is "excited and ready to accept Progressive Waste Solutions' challenge to scale our operations and impact using their vast infrastructure."

The Canadian Press


Read more Business News

25253


Recent Trending




Today's Market
S&P TSX14812.42-57.38
S&P CDNX681.43+1.87
DJIA17712.66+34.43
Nasdaq4891.22+27.86
S&P 5002061.02+4.87
CDN Dollar0.7928-0.0082
Gold1196.30-8.80
Oil48.43-3.00
Lumber282.40-3.60
Natural Gas2.62-0.05

 
Okanagan Companies
Pacific Safety0.125-0.005
Knighthawk0.010.00
QHR Technologies Inc1.50+0.00
Cantex0.03-0.01
Anavex Life Sciences0.219+0.009
Metalex Ventures0.04-0.01
Russel Metals24.50-0.18
Copper Mountain Mining1.13+0.00
Colorado Resources0.125+0.010
ReliaBrand Inc0.006-0.001
Sunrise Resources Ltd0.045+0.000
Mission Ready Services0.255+0.020
Decisive Dividend Corporation1.80+0.02

 



24910

FEATURED Property
17852192211 Campbell Road, Kelowna, BC
10092912 bedrooms
$8,900,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


CRA Notice of Assessment

Many Canadians rush to file their taxes on time each year and don’t think about it until the next year. One of the most overlooked notices received from the CRA annually is the annual Notice of ...


Medical confidential?

If ICBC asks your doctor for your information you may wonder: Can ICBC ask my doctor for my medical information? Can ICBC request a medical report from my doctor without my consent? What is ICBC entit...


Stay out of sales limbo!

Have you ever had a series of good meetings with a prospect … gathered all kinds of information … and given what you thought was a great presentation … only to receive a response ...

_



25666

25482


Member of BC Press Council


24920