Recycling firm Canada Fibers to buy Ontario competitor HGC Management
HGC operates seven material recovery plants across the province as well as a fleet of 75 trucks for curbside pick-ups
TORONTO—Canada Fibers Ltd., a recycling company with more than a dozen sorting and manufacturing locations across Ontario, is expanding its reach in the province with the acquisition of HGC Management Inc.
The Toronto-based company did not release the financial terms of the deal, but said the purchase will add to its stream of recovered materials from Ontario curbsides.
HGC has seven material recovery plants in the province—from Simcoe near Lake Erie to Cornwall on the eastern edge of Ontario. It also operates a fleet of 75 trucks used for home recycling pick-up.
Along with diverting household waste from landfills, Canada Fibers manufactures the material it recovers into industrial products, such as plastics for packaging, wooden fuel pellets and garden mulch.
The company expects the deal to close within 60 days.