LKQ announced yesterday that it has acquired businesses since the beginning of the first quarter. The companies primarily deal in remanufacturing or aftermarket parts, and include: Cross Canada, a Canadian aftermarket parts distributor with operations in 5 provinces; PROformance Powertrain, an engine remanufacturer out of Springfield, MO; SPI Distribution, an aftermarket parts distributor; Best Bumper, a Texas bumper remanufacturer, an automotive recycler in Virginia and a self-service recycling company in Colorado.
In a press release… Read the rest
Darling International just announced that it has completed its acquisition of Sanimax’s rendering, grease collection and trap servicing business in Ohio and Indiana, along with some of its business in Pennsylvania and Michigan. This provides an additional source of raw materials for Darling’s food by-products recycling business.
In a press release, Chairman and Chief Executive Officer Randall Stuewe commented on the acquisition, saying
“We are pleased to have the opportunity to add these businesses to … Read the rest
Advanced Environmental Technologies just announced that it will use a new, $11.5 million factory in Watts, Oklahoma to recycle lower-grade plastics. AERT hopes to use this strategy to reduce its costs for materials for its recycled plastic/wood fiber products. The company also plans to re-sell some of the lower grade plastic to other companies, thereby increasing its revenue stream and providing opportunities for revenue that extend beyond the seasonal demand for building supplies.
In an … Read the rest
Darling International (DAR), the largest publicly traded recycler of food waste (mostly fryer grease) reported mixed earnings yesterday, reporting an EPS that was in line with estimates at .06/share but revenues that were shy of expectations at $133 million. That’s a big drop in growth over the year ago period with an EPS drop of 77% and a revenue drop of 33%, but as is always the case, no matter how bad the quarter, the … Read the rest
Converted Organics just announced that they have shipped 46 tons of their organic fertilizers and soils amendments to a major retail chain. The products, which are made from recycled food wastes, will be available for gardeners to purchase in time for the spring planting season. Over the next few days, Converted Organics will ship even more product out, with an additional 55 tons of fertilizer scheduled to reach the same chain by March 6.
Some … Read the rest
Caraustar Industries announced today that it is converting 2 older production facilities in Saginaw, MI into one new facility to produce recycled paperboard products. Because the newer facility has a better, more modern design, the company will be able to improve productivity while saving on the cost of maintaining two separate plants, direct labor costs, and some annual fixed costs.
Paul Curtis, Caraustar’s VP and regional manager, explained the significance of the move for his … Read the rest
There’s a good article from Businessweek, highlighting Casella Waste (CWST) and the recycling boom that’s fueled by environmental concerns and the commodity boom. A bale of aluminum is currently fetching $900/bale so an increasing number of companies are looking to cash in.
“The possibilities have venture capitalists and buyout firms scrambling to invest in a melange of quirky startups that might have provoked belly laughs from these same financiers five years ago. The broad category … Read the rest
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