Covanta Acquires 6 Veolia Energy-from-Waste Units
Covanta Holding Corp. completed the first stage in its acquisition of Veolia's North American Energy-from-Waste (EfW) business, according to an Aug. 24 press release.
The businesses being acquired in this stage of the acquisition consist of six EfW businesses and one transfer station business as follows:
- Long Beach EfW, Calif.
- Dutchess EfW, N.Y.
- Islip EfW, N.Y.
- Montgomery EfW, Pa.
- York EfW, Pa.
- Vancouver EfW, Canada
- Abington Transfer Station, Pa.
Each of the businesses acquired includes a long-term operating contract with the respective municipal client. The company also acquired a majority ownership stake in the Montgomery facility. The acquired businesses now includes operation of 44 EfW facilities that process approximately 19 million tons of municipal solid waste annually.
The company expects to complete this transaction in its entirety by year's end with the purchase of the operating contract relating to an EfW facility in Miami-Dade, Fla.
"The strategic acquisition of Veolia's North American EfW business compliments our industry leading portfolio. I am proud of our team for moving so quickly to complete this first stage of the acquisition. We're excited to be welcoming six new clients and a group of talented employees to the Covanta family and will begin integration efforts immediately that will allow us to achieve operational efficiencies," said Anthony Orlando, president and chief executive officer of Covanta.