On Thursday, Waste Management announced that its WM Recycle America subsidiary has purchased the Greenstar recycling business from NTR plc, adding the operations of "one of the nation's largest private recyclers" to its business.
Waste Management said Greenstar and its subsidiaries managed approximately 1.5 million tons of recycled material for more than 12,000 customers through 12 material recovery facilities in 2012. The purchase brings with it seven single-stream plants and a brokerage business for recyclable material. It will increase Waste Management's recycling capacity to approximately 15 million tons per year -- three-quarters of the way toward the company's goal of recycling 20 million tons by 2020.
Financial terms of the acquisition were not disclosed.
The article Waste Management Buys Recycler Greenstar originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Waste Management. The Motley Fool owns shares of Waste Management. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.