Veolia ES Solid Waste up for sale, says parent company
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Dec. 6 — Veolia ES Solid Waste Inc., one of the country´s largest solid waste management companies, is going on the auction block.
Paris-based Veolia Environment, which operates in dozens of countries around the world, announced today that it wants to sell its solid waste business in the United States.
“Veolia´s Board of Directors approved this decision and the company will be actively moving forward with finding an appropriate buyer for Veolia ES Solid Waste Inc.,” said Richard Burke, CEO of Veolia Environmental Services North America, parent company to Veolia ES Solid Waste, in a statement this morning.
“These divestiture plans are in support of VE´s existing program to pay down debt and increase cash flow, which has been in place since 2009 and was expanded earlier this year. Our Solid Waste business is self-sustaining, profitable and highly marketable, and its sale will make a significant contribution to the financial wellbeing of Veolia globally,” Burke said.
Business will continue as usual as the company seeks a buyer, Burke indicated.
The decision to sell the company´s solid waste operations in the United States follows the earlier divestiture of Veolia’s waste-to-energy operations.
Veolia Environmental Services North America is ranked No .6 in the Waste & Recycling News Top 100 Hauling and Disposal Rankings. The company reported $ 1.1 billion in hauling revenue in 2010, with 10,000 employees and more than 2,700 hauling trucks.
Contact Waste & Recycling News senior reporter Jim Johnson at [email protected] or 937-964-1289.
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