A notice was received by Fox Township stating Veolia Environmental has secured a Share Purchase Agreement to sell the solid waste business in the U.S. to Advance Disposal Services (ADS) Waste Holdings. The transaction is subject to regulatory approvals and is expected to close in the fall.
As stated in the July 24 letter, ADS Waste Holdings owns two other companies: Advanced Disposal Services, Inc. based in Jacksonville, Fla.; and Interstate Waste Services, Inc. based in Basking Ridge, N.J.
At closing, Veolia will be combined with both entities to form a leading environmental service company with operations in 20 states, operating as Advanced Disposal Services.
Veolia announced its intent to sell the solid waste business in the U.S. in December 2011, among other company assets, in order to help the company meet its financial obligations, pay down debt and increase its cash flow.
"Over the coming months, we'll be working closely with ADS Waste Holdings to efficiently close this transaction. We'll continue to operate the business until the deal closes, at which point the Solid Waste group will transition to its new ownership," stated Donald Henrichs, area manager at Veolia, in the letter.A
The ADS brand includes 47 landfills, 92 transfer stations and 5,450 employees serving customers in 20 states.
In other business, PennDOT responded that a lower speed limit along SR 948 is not justified in response to the township's request that PennDOT conduct a traffic study on the roadway. This request was made by a township resident.