Monday, March 2nd2.3°C
25327
23829

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




Recent Trending




Today's Market
S&P TSX15264.05+29.71
S&P CDNX704.30-2.43
DJIA18288.63+155.93
Nasdaq5008.096+44.568
S&P 5002117.39+12.89
CDN Dollar0.7973-0.0002
Gold1206.40-1.2999
Oil51.59-0.55
Lumber297.70-1.80
Natural Gas2.699-0.035

 
Okanagan Companies
Pacific Safety0.135+0.015
Knighthawk0.010.00
QHR Technologies Inc1.60+0.05
Cantex0.035-0.005
Anavex Life Sciences0.18-0.01
Metalex Ventures0.045+0.01
Russel Metals25.54+0.16
Copper Mountain Mining1.29-0.01
Colorado Resources0.135-0.015
ReliaBrand Inc0.008-0.0007
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.225-0.01

 





FEATURED Property
22088701075 Van Street
3 bedrooms 3 baths
$449,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Refinance your mortgage?

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which will save new buyers and those with mo...


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


Are you asking the right questions?

Have you ever had this happen to you? You are in the middle of your second or third good discussion with a prospect and everything seems to be going great. The prospect seems engaged and happy to work...

_








Member of BC Press Council


25107