Casella Waste to sell Maine WTE plant

   Casella Waste Systems, Inc. (Rutland, VT) and the city of Biddeford, Maine, have signed a purchase and sale agreement under which the city will acquire a waste-to-energy (WTE) plant from Casella Waste for $6.65 million, to be paid over a 20-year period. As part of the agreement, the city has also entered into a new 10-year waste handing agreement and a new 10-year recycling collection agreement with Casella. The deal set to close on November 15, 2012, and is contingent upon the fulfillment of certain conditions, including Casella’s receipt of a final permit modification for its Juniper Ridge Landfill in Old Town, Maine, allowing the facility to accept municipal solid waste (MSW). “Biddeford had approached us several times over the past 10 years to find a solution to shut down the 25-year old waste-to-energy facility to redevelop their downtown area,” said Casella Waste Chairman and CEO John Casella. “Given current low energy prices and our belief that a successful resource management strategy combines waste reduction, an effective recycling solution, and waste disposal in a low-emission landfill, we have structured a transaction that is favorable for our shareholders, while helping the community to meet its long-term solid waste objectives through 10 year waste handling and Zero-Sort Recycling contracts.”