Casella Waste Systems, Inc. Announces a Permit Expansion at Its North Country Landfill

Rhea-AI Summary

Casella Waste Systems (CWST) announced a permit modification from the New Hampshire Department of Environmental Services to expand its North Country Environmental Services landfill by approximately 1.24 million cubic yards. This expansion translates to about six additional years of disposal capacity, enabling Casella to better serve over 50,000 customers across 150 communities in the state. The permit was issued on October 9, 2020, marking a crucial step in the company’s long-term strategy and providing significant economic support amidst a disposal capacity shortage in the Northeast.

Positive

• Permit modification increases landfill disposal capacity by 1.24 million cubic yards, providing six more years of service.
• Expansion supports over 50,000 customers in New Hampshire, ensuring continued operations and resource management.

Negative

• None.

RUTLAND, Vt., Oct. 14, 2020 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling and resource management services company, announced that the New Hampshire Department of Environmental Services (“NHDES”) issued a permit modification to expand the Company’s North Country Environmental Services, Inc. (“NCES”) landfill to increase its permitted disposal capacity by approximately 1.24 million cubic yards of airspace. This expansion will provide approximately six years of additional disposal capacity at the site located in Bethlehem, New Hampshire.

“We are pleased to receive this increase to our permitted capacity at our NCES landfill,” said John W. Casella, Chairman and CEO of Casella Waste Systems, Inc. “With this meaningful permit issuance, we believe we are well positioned to continue to meet the disposal and resource management needs of our customers and New Hampshire.”

The disposal capacity allows Casella to continue to provide its vertically integrated service to more than 50,000 commercial and residential customers in over 150 communities across the state. The continued operation of the NCES landfill will make a significant contribution to New Hampshire’s economy and provide an economical in-state disposal option.

“This is an important step towards our long-term development strategy in New Hampshire and provides an essential bridge to our efforts to develop additional disposal capacity in the future,” Casella said. “At a time when municipal governments across the country are experiencing great uncertainty in their budgets, and the Northeast continues to face a disposal capacity shortage, this permit expansion provides New Hampshire with support in both areas.”

The Company’s wholly owned subsidiary NCES is the owner and operator of the facility. The NHDES issued the solid waste facility permit modification on October 9, 2020.

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, chief financial officer at (802) 772-2239, and media should contact Joseph Fusco, vice president at (802) 772-2247, or visit the company’s website at http://www.casella.com.

Safe Harbor Statement

Certain matters discussed in this press release, including, but not limited to, the statements regarding the Company’s intentions, beliefs or current expectations concerning the additional disposal capacity at the NCES landfill and the Company’s ability to meet the disposal and resource management needs of its customers and New Hampshire, 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 “believe,” “expect,” “anticipate,” “plan,” “may,” “would,” “intend,” “estimate,” "will," “guidance” 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 the Company operates and management’s beliefs and assumptions. The Company cannot guarantee that it actually will achieve the plans, intentions, expectations or guidance disclosed in the forward-looking statements made. Such forward-looking statements, and all phases of the Company’s operations, involve a number of risks and uncertainties, any one or more of which could cause actual results to differ materially from those described in its forward-looking statements.

Such risks and uncertainties include or relate to, among other things, the following: it is challenging to predict the duration and severity of the COVID-19 pandemic and its negative effect on the economy, our operations and financial results; policies adopted by China and other countries will further restrict imports of recyclable materials into those countries and have a further material impact on the Company’s financial results; adverse weather conditions may negatively impact the Company's revenues and its operating margin; the Company may be unable to increase volumes at its landfills or improve its route profitability; the economics of recycling programs may cause municipalities to reconsider the viability of continuing these programs; the Company's need to service its indebtedness may limit its ability to invest in its business; landfill operations and permit status may be affected by factors outside the Company's control; the Company may be required to incur capital expenditures in excess of its estimates; the Company's insurance coverage and self-insurance reserves may be inadequate to cover all of its significant risk exposures; and fluctuations in energy pricing or the commodity pricing of its recyclables may make it more difficult for the Company to predict its results of operations or meet its estimates. There are a number of other important risks and uncertainties that could cause the Company’s 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 the Company's Form 10-K for the fiscal year ended December 31, 2019, and in other filings that the Company may make with the Securities and Exchange Commission in the future. The Company undertakes 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:
Ned Coletta
Chief Financial Officer
(802) 772-2239

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

http://www.casella.com

FAQ

What recent permit did Casella Waste Systems receive?

Casella Waste Systems received a permit modification to expand its North Country Environmental Services landfill, allowing an additional 1.24 million cubic yards of disposal capacity.

How long will the new disposal capacity last for Casella Waste Systems?

The new disposal capacity will provide approximately six additional years of service.

When was the permit for Casella Waste Systems issued?

The permit modification was issued on October 9, 2020.

How many customers does Casella Waste Systems serve in New Hampshire?

Casella Waste Systems serves over 50,000 customers across more than 150 communities in New Hampshire.

What is the significance of the landfill expansion for Casella Waste Systems?

The landfill expansion is a crucial part of Casella's long-term strategy, providing necessary waste disposal capacity amid a shortage in the Northeast.