Wheelabrator buys Portsmouth RDF plant
Wheelabrator Technologies Inc., a subsidiary of Waste Management, purchased the Southeastern Public Service Authority's refuse-derived fuel (RDF) plant in Portsmouth, Va., and adjacent waste-to-energy facility for $150 million. Wheelabrator officially assumed management of the operation, dubbed Wheelabrator Portsmouth, on April 29.
The purchase concludes a two-year process aimed at selling the two plants in order to reduce debt and operating costs and draw on the expertise of a private vendor, according to Wheelabrator. SPSA chose Wheelabrator in November from a pool of four companies.
A total of 164 SPSA employees at the facilities will become Wheelabrator employees. Wheelabrator also plans to invest more than $20 million in capital improvements.
The purchase concludes a two-year process aimed at selling the two plants in order to reduce debt and operating costs and draw on the expertise of a private vendor, according to Wheelabrator. SPSA chose Wheelabrator in November from a pool of four companies.
A total of 164 SPSA employees at the facilities will become Wheelabrator employees. Wheelabrator also plans to invest more than $20 million in capital improvements.
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