Waste Management Buys Recycler Greenstar (WM)

Waste Management Buys Recycler Greenstar

On Thursday, Waste Management (NYSE: WM ) 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.

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