CASELLA WASTE SYSTEMS, INC. ANNOUNCES SOUTHBRIDGE, MASS TOWN COUNCIL VOTES TO APPROVE AMENDED OPERATING AGREEMENT FOR LANDFILL
RUTLAND, VERMONT (May 23, 2007) – Casella Waste Systems, Inc. (Nasdaq: CWST), a regional, non-hazardous solid waste services company, said that the Town Council in Southbridge, Massachusetts voted Monday night to approve the amended agreement for the operation of the Barefoot Road Sanitary Landfill. The Town Council vote authorized the Town Manager, on the behalf of the town, to enter into the extension agreement with the company.
The landfill is currently permitted to receive 180,960 tons per year of construction and demolition (C&D) residuals and limited municipal solid waste (MSW) from the Town of Southbridge. The amended agreement would not authorize an increase in the site's total permit limit of 499,000 tons per year, but reallocates tonnage from the C&D processing facility to the landfill. The agreement would allow the company to seek approvals to convert the landfill from C&D to MSW and to increase the annual tonnage to 405,000 tons per year of MSW.
"We have worked closely with the Town of Southbridge over the past three years and I believe that we have an agreement that adds long-term value to the community and to our stakeholders," said John W. Casella, chairman and chief executive officer of Casella Waste Systems, Inc.
The operation of the facility as outlined in the amended agreement remains subject to the receipt of necessary permits.
For further information, contact Richard Norris, chief financial officer; Ned Coletta, director of investor relations; or Joseph Fusco, vice president; at (802) 775-0325, or visit the company's website at http://www.casella.com.
Safe Harbor Statement Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by the context of the statements, including words such as the company "believes," "anticipates," "expects" or words of similar import. Similarly, statements that describe the company's future plans, objectives or goals are forward-looking statements. Such forward-looking statements, and all phases of our operations, involve a number of risks and uncertainties, including failure to obtain necessary permits, any one or more of which could cause actual results to differ materially from those described in our forward-looking statements. Other factors which could materially affect such forward-looking statements can be found in our periodic reports filed with the Securities and Exchange Commission, including the Risk Factors section in our Form 10-K for the fiscal year ended April 30, 2006.