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Weekly UpdatesThe Irish firm NTR has established a new recycling division in North America called Greenstar North America.
In addition to the creation of the North American business unit, the company has acquired majority stakes in four U.S.-based recycling companies, including Mid America Recycling Co., Delta Management Group, Recycle Management Co. and Todd Heller Inc. The acquisitions give Greenstar North America a network of 15 processing facilities, which will process and market more than 1 million tons of recyclables per year.
Greenstar North America gains a visible position in Pittsburgh with its stake in Recycle Management Co.; a sizable stake in the glass, container and paper recycling markets in the Pennsylvania area with its position in Todd Heller Inc.; a presence in Illinois with its stake in Delta Management Group, which is headquartered in Normal, Ill., and has more than 4,500 managed retail and commercial locations throughout North America; and a sizable presence in the Midwest and Texas with its position in Mid America Recycling.
CEO Steve Ragiel leads Greenstar North America, headquartered in Houston. Other top managers at the company are CFO Dan Shoener, Senior Vice President Dennis Soriano, Vice President of Sales and Marketing Tim Herman and Vice President of Commodity Marketing Brian Gaughan.
The company's focus is on processing various types of recyclables, commodity upgrading and trading of recyclables in North America.
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In announcing the move, Greenstar says it does not plan to enter either the landfil or solid waste collection business, according to a news release.
'The economics of recycling are becoming increasingly attractive," NTR CEO Jim Barry says. "Resource depletion in addition to an ever-changing energy market has created business opportunities for recycled products. Through the application of new technologies, opportunities exist to divert significant quantities of product away from disposal into marketable recycled products, paving the way for long-term, sustainable growth."
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