Wednesday, October 1st10.2°C
22738
23038

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 TSX14912.44-48.069
S&P CDNX908.51-0.78
DJIA16851.97-190.93
Nasdaq4442.392-50.998
S&P 5001955.95-16.34
CDN Dollar0.8952+0.0022
Gold1218.40+6.80
Oil91.13+1.37
Lumber333.60+0.70
Natural Gas4.139+0.018

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.01
Cantex0.065-0.025
Anavex Life Sciences0.19+0.006
Metalex Ventures0.0550.00
Russel Metals34.58+0.01
Copper Mountain Mining2.38-0.04
Colorado Resources0.165+0.015
ReliaBrand Inc0.019-0.001
Sunrise Resources Ltd0.065+0.045
Mission Ready Services0.31-0.01

 





FEATURED Property
1951071106-456 McPhee St
3 bedrooms 3 baths
$349,800
more details
image2image2image2
Click here to feature your property
Please wait... loading


Power-save your way to a down payment

Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...


A wildly successful manufacturer

Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...


Finding the smart money

Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...

_








Member of BC Press Council


23391