TORONTO, ONTARIO--(Marketwired - Jan 29, 2014) -
Editors Note: A photo for this release is available on the Canadian Press picture wire via Marketwired.
Progressive Waste Solutions Ltd. (BIN)(BIN.TO), the largest waste management company in Canada, announced today that it acquired a 19.9% interest in TerraCycle Canada. TerraCycle Canada collects and recycles pre-and post-consumer waste streams ranging from cigarette butts to coffee capsules to drink pouches - that are otherwise sent to landfill or incinerated. The companies are beginning to cooperate on a range of recycling initiatives throughout Canada to bring more recycling options to Progressive Waste Solutions' commercial, governmental and residential customers. TerraCycle Canada is proud to officially announce a corporate rebranding as a 'Progressive Waste Solutions Partner'.
Joseph Quarin, President and CEO of Progressive Waste Solutions, commented, "TerraCycle demonstrates the ability to engage manufacturers, retailers and most importantly, millions of consumers in recycling otherwise non-recyclable waste streams. We expect that this partnership will enhance the range of recycling options Progressive Waste Solutions can offer its customers. Our investment in TerraCycle reflects the progressive approach we take towards our commitment to creating a more sustainable future."
Tom Szaky, Founder and CEO of TerraCycle, Inc. added, "I am excited TerraCycle is partnering with Progressive Waste Solutions in Canada. Their industry leadership maintains an impressive vision for a future in which materials that are now landfilled or incinerated can be recycled. TerraCycle shares this vision and is excited and ready to accept Progressive Waste Solutions' challenge to scale our operations and impact using their vast infrastructure."
This partnership will include Progressive Waste Solutions offering TerraCycle's premium recycling services in many of their contract bids - thereby providing Progressive Waste Solutions customers with advanced options that are available from no other waste management company for recycling otherwise non-recyclable waste streams.
TerraCycle Canada already operates a significant network of individuals and organizations across Canada. Through the corporate sponsorship of leading companies such as Maple Leaf Foods®, Mr. Christie's®, Nespressoâ and Garnier®, TerraCycle runs free recycling fundraisers at over 20,000 schools and community groups across Canada. In addition, TerraCycle partners with retailers such as London Drugs and Staples Canada to collect waste at their store locations and with the City of Vancouver to collect cigarette butts in recycling receptacles installed across the city.
Globally, TerraCycle has repurposed more than 2.6 billion pieces of food and beverage, office and school supply, personal care and beauty packaging and other hard to recycle waste streams such as cigarette butts. These collections helped raise more than $8 million dollars (US) to charity through its various packaging reclamation programs. TerraCycle is currently creating solutions for other difficult to recycle, but widely discarded, waste streams such as disposable diapers and used chewing gum.
TerraCycle, Inc. is an international upcycling company that takes difficult-to-recycle packaging and turns it into affordable, innovative products. Founded in 2001, TerraCycle is the world leader in the collection and reuse of non-recyclable post-consumer waste. It repurposes the waste into sustainable, affordable building materials and consumer products that are available for purchase online. In 23 countries, the waste is collected through TerraCycle's Brigade® programs, which donate money to schools and non-profits for every piece of waste participants collect and return. To learn more, visit www.terracycle.ca.
About Progressive Waste Solutions Ltd.
As one of North America's largest full-service waste management companies, we provide non-hazardous solid waste collection, recycling and disposal services to commercial, industrial, municipal and residential customers in 13 U.S. states and the District of Columbia and six Canadian provinces. We serve our customers with vertically integrated collection and disposal assets. Progressive Waste Solutions Ltd.'s shares are listed on the New York and Toronto Stock Exchanges.
Commitment to Sustainability
Progressive Waste Solutions is committed to creating a more sustainable future. Our environmental practices and technologies provide benefits including: diversion of waste from our landfills through our recycling facilities; organized, timely, safe waste removal from residential and business communities; energy capture of greenhouse gases for productive use; and recycling and composting to conserve precious resources. Beyond meeting and exceeding regulatory expectations, we work constantly to identify best management practices that promote environmental sustainability. To find out more about Progressive Waste Solutions, visit our website at www.progressivewaste.com.
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