Date: August 12, 2011
Source: Progressive Waste Solutions, Ltd.
Progressive Waste Solutions, Ltd. (Toronto, ON) is buying a Louisiana-based recycling company called The Recycling Foundation Inc. that has operations in Baton Rouge and Lafayette. The Recycling Foundation, founded in the early 1990s by the Cheatham family, developed a 5,000 ton per month single-stream recycling facility in Baton Rouge which was the first material recovery facility in the state. The company serves more than 500 businesses and has curbside recycling contracts for East Baton Rough Parish, Lafayette, Zachary, Youngsville and Carencro. "This acquisition will enhance our efforts to bring our recycling services throughout Louisiana. We have been at the forefront of recycling in other parts of the country and we intend to tap into our knowledge and expertise to increase recycling here in Louisiana," said Phil Smith, Region Vice President of IESI.
August 11, 2011
IESI LA Corporation Acquires the Recycling Foundation Inc. in Louisiana
Acquisition of the Recycling Foundation Demonstrates Commitment to Resource Recovery
IESI LA Corporation ("IESI" or the "Company"), a subsidiary of Progressive Waste Solutions Ltd., announced the acquisition of The Recycling Foundation Inc., located in Baton Rouge, LA and Lafayette, LA, effective August 1, 2011.
The Recycling Foundation was founded in the early 1990s by the Cheatham family and the facility in Baton Rouge was the first Material Recovery Facility in the state of Louisiana. The Recycling Foundation serves more than 500 businesses and holds curbside recycling contracts for East Baton Rouge Parish, Lafayette, Zachary, Youngsville, and Carencro. It processes approximately 5,000 tons of recyclables per month. The material recovery facility located in Baton Rouge is a single stream facility with approximately 35,000 square feet. Because it employs a single-stream process, customers can combine paper, metals, cardboard and plastics in one large container.
"This acquisition will enhance our efforts to bring our recycling services throughout Louisiana. We have been at the forefront of recycling in other parts of the country and we intend to tap into our knowledge and expertise to increase recycling here in Louisiana," said Phil Smith, Region Vice President of IESI. "We expect to see many opportunities for the expansion of recycling in the state and we are proud to help recover our country's valuable resources."
This acquisition demonstrates IESI's ongoing commitment to environmental initiatives. In 2009, IESI constructed and opened the first LEED Certified privately-funded single-stream material recovery facility (MRF) in the United States located in McKinney, Texas. "We are very proud of our environmental and recycling efforts, which are a testament to our leadership in the environmental services industry," said Tom Brown, Senior Vice President and Chief Operating Officer of IESI. "This tuck-in acquisition is part of our broader strategy of building a strong network of assets in Louisiana."
IESI's sustainability efforts are also reflected in the amount of material it diverts from landfills across the country. In 2010, IESI, along with parent company Progressive Waste Solutions Ltd., diverted more than 1.2 million tons of material from landfills, including more than 600,000 tons of paper, representing nearly 10.8 million trees. In addition, IESI's Seneca Meadows Tire Recycling center processed more than 1.5 million automotive tires for re-use.
The communities IESI serves also recognize the Company's commitment to the environment. IESI has received numerous awards and recognitions by environmental organizations including Keep Texas Beautiful and Keep America Beautiful. The Company frequently participates in city-wide trash clean-up programs and its employees are active on environmental boards and commissions.
About IESI Corporation
IESI LA is a part of IESI Corporation, a subsidiary of Progressive Waste Solutions Ltd., one of North America's largest full-service waste management companies, providing non-hazardous solid waste collection and landfill disposal services for commercial, industrial, municipal and residential customers in six provinces in Canada, and eleven states and the District of Columbia in the U.S. To find out more about Progressive Waste Solutions Ltd., visit our website at www.progressivewaste.com.
Progressive Waste Solutions Ltd.
Chaya Cooperberg, Vice President, Investor Relations
and Corporate Communications