Date: June 1, 2010
Source: Casella Waste Systems, Inc.
Casella Waste Systems, Inc. Announces That the Massachusetts Department of Environmental Protection Has Issued a Permit for the Conversion of the Southbridge Landfill to MSW
Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste, recycling and resource management company, announced that on May 28, 2010, the Massachusetts Department of Environmental Protection (the "DEP") issued a permit for the conversion of the Southbridge Sanitary Landfill to 180,960 tons per year of municipal solid waste (MSW). The facility's previous permit was for 180,960 tons per year of construction and demolition (C&D) residuals, and limited MSW from the town of Southbridge only.
"We have worked closely with the Town of Southbridge to develop this important long-term project that will create substantial value for the community and for our stakeholders," said John W. Casella, chairman and chief executive officer of Casella Waste Systems, Inc. "We will now be able to move forward with our long-term strategy to more fully vertically integrate our Massachusetts assets and improve the returns on our investments in that market.
"When converted to MSW, the Southbridge Landfill will be key to our resource management service offerings in Massachusetts," Casella said. "We will be able to offer our municipal, commercial, and residential customers a full complement of services, from municipal waste disposal at the Southbridge Landfill, to Zero-Sort(R) Recycling at our Auburn and Charlestown facilities, to organics solutions through our New England Organics group."
With the issuance of this permit, the Company is implementing the first stage of the June 2008 Southbridge Board of Health minor modification to the Site Assignment for the Landfill. In conformance with the Site Assignment, the Company now plans to move forward with the next stage of the planned expansion of the annual capacity limit to 405,000 tons of MSW per year, including development of a landfill gas-to-energy facility at the site.
About Casella Waste Systems, Inc.
Casella Waste Systems is an integrated solid waste and resource management company headquartered in Rutland, Vermont. For further information, investors should contact Ned Coletta, director of finance and investor relations at (802) 772-2239; media should contact Joseph Fusco, vice president at (802) 772-2247; or visit the company's website at www.casella.com.
Safe Harbor Statement
Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by the context of the statements, including words such as the Company "believes," "expects," "anticipates," "plans," "may," "will," "would," "intends," "estimates" and other similar expressions, whether in the negative or affirmative. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's beliefs and assumptions. We cannot guarantee that we actually will achieve the plans, intentions or expectations disclosed in the forward-looking statements made. Such forward-looking statements, and all phases of our operations, involve a number of risks and uncertainties, including an appeal of the Southbridge Sanitary Landfill permit described above or the failure to obtain necessary permits to expand annual capacity, any one or more of which could cause actual results to differ materially from those described in our forward-looking statements. There are a number of other important risks and uncertainties that could cause our actual results to differ materially from those indicated by such forward-looking statements. These additional risks and uncertainties include, without limitation, those detailed in Item 1A, "Risk Factors" in our Annual Report on Form 10-K/A for the year ended April 30, 2009. We undertake no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Investors contact:
Ned Coletta
Director of Finance and Investor Relations
(802) 772-2239
Media Contact:
Joseph Fusco
Vice President
(802) 772-2247
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