Monday, December 22nd5.5°C
24563
23931

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

24387


Recent Trending




Today's Market
S&P TSX14468.26+121.51
S&P CDNX676.54+11.04
DJIA17804.8026.65
Nasdaq4765.38+16.983
S&P 5002070.65+9.42
CDN Dollar0.8620+0.0003
Gold1197.90+2.00
Oil56.50+2.39
Lumber338.00-0.70
Natural Gas3.322-0.142

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.03
Cantex0.03-0.005
Anavex Life Sciences0.1726+0.0026
Metalex Ventures0.05-0.005
Russel Metals25.58-0.42
Copper Mountain Mining1.55-0.02
Colorado Resources0.120.00
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.05-0.005
Mission Ready Services0.215-0.01

 
24130


24153

FEATURED Property
16927432440 Old Okanagan Hwy
3 bedrooms 2 baths
$225,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


My final thoughts on real estate

This will be the last column I write on real estate. Largely because at the end of the year I will be handing in my license. After 20+ years of working in land development, resort development and rea...


Reflecting on the end of the year

The importance of the end of the year and the Christmas holidays is profound. It is a time to reconnect with family and traditions that have made us who we are. But the year-end has always been a time...


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...

_



24111

24586


Member of BC Press Council


23860