CALGARY—Two Calgary-based waste and environmental services companies, Tervita Corp. and Newalta Corp., have combined to create a new firm.
The combined firm will provide waste processing, treating, recycling and disposal services to customers in the oil and gas, mining and industrial sectors and operate under the Tervita name.
John Cooper, president and CEO of Tervita Corp. said, “We are pleased to have now closed this important transaction and look forward to focusing on executing the robust business plan in front of us. We intend to deliver further value to our customers through our combined operations, and will focus on building shareholder value through continuing to grow Tervita Corp., maximizing our operating results, and achieving the clearly identified and significant synergies that we expect from the merger.”
John Barkhouse, president and CEO of Newalta, shared a similar sentiment: “We are delighted to complete the merger with Tervita, and wish to thank all of our shareholders, employees and stakeholders for their support.”
As part of the arrangement, all of Newalta’s outstanding debt has been refinanced.