January 21, 2016
Waste-to-energy firm Covanta Holding Corp. has acquired Wisconsin environmental services firm Chief Industrial Services, expanding and complementing its capabilities in the Midwest.
Winneconne, Wis.-based Chief Industrial specializes in custom non-hazardous waste management and cleaning services for industrial and commercial customers in the Midwest. Morristown, N.J.-based Covanta’s subsidiary, Covanta Environmental Solutions, purchased the privately held Chief Industrial for an undisclosed amount, according to a news release.
The move adds two locations to Covanta Environmental and increases the services and customized solutions to current and future customers. The deal also follows Covanta’s 2015 acquisition of Milwaukee-based Advanced Waste Services.
"The acquisition of Chief reinforces Covanta's commitment to growing our environmental services business by expanding our non-hazardous liquid and solid waste collection, transportation and waste treatment capabilities,” said Paul Stauder, president of Covanta Environmental Solutions. “We also believe that the integration of Chief with the previous acquisition of Advanced Waste Services will provide opportunities for synergies."
Covanta Environmental offers comprehensive industrial material management services to companies aiming to solve environmental challenges. It was created both through organic growth and the acquisition of several well-established environmental services companies. Covanta Environmental has access to a network of treatment, recycling and waste-to-energy facilities.
Slumping energy prices caused Covanta earlier this month to announce that it will close at least temporarily two biomass-to-energy plants in Maine because of slumping energy prices. Covanta will take operations at biomass plants in Jonesboro and West Enfield offline at the end of March.
But late last year the company got some good news, as it extended the contract for the long-term operation and maintenance contract for the York County Resource Recovery Center (RRC) waste-to-energy (WTE) facility located in Manchester Township, Pa. Covanta said ongoing investments totaling $30 million will ensure the facility maintains performance and safety standards and reliable operations through the life of the contract, which now runs through 2035.