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March 15, 2001 01:00 AM

Casella to sell tire recycling asset

Miles Moore
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    RUTLAND, Vt. (March 15, 2001)—Casella Waste Systems Inc. plans to sell its tire recycling business to an investor group, subject to due diligence.

    "While the scrap tire recycling business possesses significant long-term growth potential, it is not consistent with our renewed focus on our traditional solid waste businesses," Casella Waste President John W. Casella said in a press release.

    The company´s scrap tire operations include a tire chipping plant in Eliot, Maine; two cryogenic tire processing facilities in Ford Heights, Ill. and Cambridge, Ontario; and a Dallas-based tire collection operation whose high-profile customers include Bridgestone/Firestone Inc. and WalMart Inc. Joseph Fusco, vice president of Casella Waste, declined to name the prospective buyer, but said he expected the deal to be completed by mid-May.

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