MORRISTOWN, N.J., Jan. 19, 2016 /PRNewswire/ -- Covanta (NYSE: CVA), a world leader in sustainable waste and energy solutions, today announced that its subsidiary, Covanta Environmental Solutions, has acquired Chief Industrial Services ("Chief"), a privately-held environmental services company located in Wisconsin. The acquisition will expand and complement Covanta's existing capabilities in the Midwest, following the 2015 acquisition of Milwaukee-based Advanced Waste Services.
This most recent acquisition adds two locations to Covanta Environmental Solutions' current asset base and increases a portfolio of services and customized solutions to current and future customers. Chief specializes in tailored non-hazardous waste management and industrial cleaning services for industrial and commercial customers in the Midwest.
"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. We also believe that the integration of Chief with the previous acquisition of Advanced Waste Services will provide opportunities for synergies," said Paul Stauder, President, Covanta Environmental Solutions.
Created through both organic growth and the acquisition of several well-established environmental services companies, Covanta Environmental Solutions offers comprehensive industrial material management services to companies seeking solutions to some of today's most complex environmental challenges. With a nationwide network of treatment, recycling and Energy-from-Waste facilities, Covanta Environmental Solutions enables customers to mitigate risk and reach their sustainability goals.
Covanta is a world leader in providing sustainable waste and energy solutions. Annually, Covanta's modern Energy-from-Waste facilities safely convert approximately 20 million tons of waste from municipalities and businesses into clean, renewable electricity to power one million homes and recycle approximately 500,000 tons of metal. Through a vast network of treatment and recycling facilities, Covanta also provides comprehensive industrial material management services to companies seeking solutions to some of today's most complex environmental challenges. For more information, visit covanta.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking" statements as defined in Section 27A of the Securities Act of 1933 (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA") or in releases made by the Securities and Exchange Commission ("SEC"), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Covanta Holding Corporation and its subsidiaries ("Covanta") or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. For additional information see the Cautionary Note Regarding Forward-Looking Statements in the Company's 10-K, previously filed with the Securities and Exchange Commission.