Veolia Environnement Investor Day
12/6/11 • Waste
CHICAGO (December 6, 2011) Richard Burke, President and CEO for Veolia Environmental Services North America Corp. (VESNA), released the following statement regarding today’s earnings announcement by Veolia Environnement in France.
“Early this morning, our parent company, Veolia Environnement (VE), announced to the financial media its intent to exit the solid waste business in the United States. Veolia’s Board of Directors approved this decision and the company will be actively moving forward with finding an appropriate buyer for Veolia ES Solid Waste, Inc.”
“These divestiture plans are in support of VE’s existing program to pay down debt and increase cash flow, which has been in place since 2009 and was expanded earlier this year. Our Solid Waste business is self-sustaining, profitable and highly marketable, and its sale will make a significant contribution to the financial wellbeing of Veolia globally.”
“As the company seeks a buyer, we will continue with business as usual. Our drivers, sales teams, customer service representatives and managers will continue to provide a top quality service and we will deliver on our promise to ‘Service First, Safety Always’. We will honor our contracts and partnerships, and conduct business responsibly and without interruption throughout this process.”
“The normal operations and support functions for our other business units, Veolia ES Technical Solutions and Veolia ES Industrial Services, are not directly impacted.”
For additional information on the VE Investor Day announcements, please visit the Veolia Finance website.