Friday, August 1st32.8°C
22568
22745

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 TSX15215.26-115.471
S&P CDNX1000.63-0.89
DJIA16493.37-69.93
Nasdaq4352.639-17.134
S&P 5001925.15-5.52
CDN Dollar0.9161-0.0008
Gold1293.10+11.7999
Oil97.85-0.32
Lumber325.20+0.80
Natural Gas3.73-0.017

 
Okanagan Companies
Pacific Safety0.180.00
Knighthawk0.01-0.005
QHR Technologies Inc1.20-0.01
Cantex0.085+0.02
Anavex Life Sciences0.255-0.007
Metalex Ventures0.14+0.06
Russel Metals34.94-0.29
Copper Mountain Mining2.67-0.08
Colorado Resources0.185-0.02
ReliaBrand Inc0.15+0.05
Sunrise Resources Ltd0.035+0.005
Mission Ready Services0.155+0.005

 



22235

FEATURED Property
19748572106 Bernau Court
3 bedrooms 3 baths
$449,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Jobs, jobs, jobs galore

On March 6, 2010 a bridge in Turku, Finland bent 56 inches (143 centimeters) due to structural failures of both piers. No one was injured. The bridge had to be demolished 4 months later. Our infrast...


The rewards of listening

Eighty percent of our success in learning from other people is based on how well we listen. Other people’s experience can be enormously helpful. With it we can often overcome time restraints and...


Take charge of your debt

Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...

_








Member of BC Press Council