SOURCE: Casella Waste Systems, Inc.

April 05, 2012 14:30 ET

Casella Waste Systems Confirms Discussions Regarding Maine Energy Recovery Facility

RUTLAND, VT--(Marketwire - Apr 5, 2012) - Casella Waste Systems, Inc. (NASDAQ: CWST), a regional vertically-integrated solid waste, recycling and resource management services company, confirmed today that it is in continuing discussions with the City of Biddeford and the State of Maine regarding its Maine Energy Recovery Facility. As Casella has previously disclosed, the Company has been exploring a possible sale of the MERC facility for some time. As was reported today, the Company has entered into a non-binding letter of understanding with the City of Biddeford for the possible sale of the facility to Biddeford. The terms of that potential transaction include a cash component of $7.5 million dollars, expected to be paid over time. This cash component is only one part of an overall proposal, which would include Casella's acquisition of the Juniper Ridge Landfill from the State of Maine. Any transaction will be based on a determination by the Company that the overall transaction represents fair market value for the MERC facility. There can be no assurances that the parties will ultimately reach an agreement with respect to these matters. The Company does not intend to make further statements regarding the potential transaction unless and until a definitive agreement is reached.

About Casella Waste Systems, Inc.
Casella Waste Systems, Inc., headquartered in Rutland, Vermont, provides solid waste management services consisting of collection, transfer, disposal, and recycling services in the northeastern United States. For further information, investors should contact Ned Coletta, vice president of finance and investor relations at (802) 772-2239, and media should contact Joseph Fusco, vice president, at (802) 772-2247. The company's website is casella.com.

Contact Information

  • Investors:
    Ned Coletta
    Vice President of Finance and Investor Relations
    (802) 772-2239

    Media:
    Joseph Fusco
    Vice President
    (802) 772-2247

    http://www.casella.com