Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.

Foster Wheeler Unit Sells N.J. Waste-to-Energy Facility to Covanta

Foster Wheeler (NASDAQ: FWLT  ) is lightening its asset portfolio. The company has sold its Camden Resource Recovery Facility to Covanta Holding (NYSE: CVA  ) , the latter reported in a press release today. The purchase price is $48.6 million, subject to post-closing working capital adjustments, according to an SEC filing.

Camden is a 1,050-ton-per day energy-from-waste conversion facility located in the namesake New Jersey city. It generates enough electricity to power roughly 25,000 homes in the area. Last year, Camden processed around 319,000 tons of waste material into more than 146,000 megawatt hours of electricity.

Covanta Holding said it expects the deal will have a "modest impact" on its expected 2013 results. Covanta has 45 energy-from-waste facilities. 


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2600945, ~/Articles/ArticleHandler.aspx, 5/29/2015 12:31:55 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Apple's next smart device (warning, it may shock you

Apple recently recruited a secret-development "dream team" to guarantee its newest smart device was kept hidden from the public for as long as possible. But the secret is out. In fact, ABI Research predicts 485 million of this type of device will be sold per year. But one small company makes Apple's gadget possible. And its stock price has nearly unlimited room to run for early-in-the-know investors. To be one of them, and see Apple's newest smart gizmo, just click here!