New Jersey based waste to energy and resource recovery firm, Covanta (NYSE: CVA), has acquired a material processing facility in Augusta, Georgia from US Ecology, Inc. through its subsidiary, Covanta Environmental Solutions.
The company explained that the facility provides non-hazardous waste solidification, shredding, water treatment and transportation services to commercial and industrial customers.
According to Covanta the acquisition will expand its existing network in the Southeast and complement its waste to energy facilities in Florida and Alabama, as well as the its material processing facilities in North Carolina.
Boise, Idaho based environmental services provider, US Ecology, said that it decided to offload the facility to focus on its core business.
"We view this as a positive outcome for the facility, our employees and our company," commented US Ecology chairman and CEO Jeff Feeler. "The Augusta facility, while led by an excellent team of industry professionals, was not well aligned with our core environmental services assets or sales focus”
“US Ecology continues to be focused on developing its core environmental service offerings and evaluating the disposition of non-core assets,” he added.
The terms of the transaction were not disclosed.
Covanta has reduced stack emissions by 53% since 2007 and increased the amount of metals it recycles to 500,000 tonnes, according to its third sustainability report.
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