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Leading European Recycling Company NTR Announces the Establishment of Greenstar North America
Thursday October 4, 4:08 pm ET

Four Partnerships Announced

HOUSTON--(BUSINESS WIRE)--NTR announced today the establishment of its North American recycling business, Greenstar North America ("Greenstar"). Headquartered in Houston, Texas, Greenstar is now one of the largest private recycle processors in the U.S. handling over 1 million tons per year of recyclables through a network of 15 processing facilities. Greenstar is an extension of NTR's portfolio of renewable energy and recycling businesses in Europe and North America.

"The economics of recycling are becoming increasingly attractive," said NTR Chief Executive Officer, Jim Barry. "Resource depletion, in addition to an ever-changing energy market has created business opportunities for recycled products. Through the application of new technologies, opportunities exist to divert significant quantities of product away from disposal, into marketable recycled products, paving the way for long-term, sustainable growth."

Greenstar's primary focus in North America is in the recycle processing, commodity upgrading and commodity trading areas. One of its key goals is to provide customers with sustainable, innovative solutions to their recycle service needs and further drive disposal avoidance. Greenstar's growth is expected to continue to be based on a partnership approach with established leaders in the recycle sector. The company does not expect to enter the landfill or collection areas of the solid waste market.

Greenstar's management team includes experienced industry professionals with a new vision for recycling. It is led by Steve Ragiel, Chief Executive Officer with more than 20 years of experience in the recycle sector. Greenstar also includes industry veterans Dan Shoener, Chief Financial Officer, Dennis Soriano, Senior Vice President Tim Herman, Vice President of Sales and Marketing and Brian Gaughan, Vice President Commodity Marketing.

Greenstar also today announces the acquisitions of majority stakes in four leading U.S. based recycling companies that feature extensive operations in major cities including Pittsburgh, Allentown/Bethlehem, Dallas, Houston, and San Antonio. The company has spent the last year refining its business strategy for North America and views each of these acquisitions as a strategic partnership.

"We are pleased to announce our partnerships with some of the leading entrepreneurs and most innovative recycling companies in the industry today," said Steve Ragiel, Greenstar Chief Executive Officer. "These partnerships give us strong positions in attractive recycling markets. Our extensive operational and technical know-how from the European market coupled with these high quality partners provides a strong foundation as we move forward in the U.S. and develop our newly formed company."

The success of each of these partner companies has been driven by the leadership of outstanding entrepreneurs and innovators in their field. Each of these partners will remain actively involved in driving the growth of Greenstar. The new Greenstar partnerships include:

Recycle Management Company

Recycle Management, led by Pittsburgh entrepreneur Gabe Hudock, is a regional integrated recycle processor and commodity upgrading company in the paper, plastic, glass and metals markets. Located in Pittsburgh, Pennsylvania, Recycle Management are the largest processor of recyclables in the local market and features newly installed state of the art single stream processing equipment.

Todd Heller Inc.

Also in Pennsylvania, Todd Heller Inc., Todd Heller is one of the original pioneers of glass recycling in the US and has been a consistent leader and innovator in the use of optical sorting and mechanical upgrading equipment since 1981. The Todd Heller Inc. business processes bottles and cans, waste paper and glass at its site in Northampton, PA, servicing cities, counties and private solid waste haulers.

Delta Management Group

Greenstar's Delta Management Group, led by industry veteran Tim Herman, is based in Normal, Illinois with more than 4,500 managed retail and commercial locations across all 50 US states and 13 Canadian provinces including many leading regional and national brands.

Mid America Recycling Company

Mid America is one of the nation's fastest growing and largest private recycling companies. Under the management of Brian Meng, Chief Executive Officer, Mid America has built a leadership position in recycling, particularly with new investments in single stream processing, and the export side of the business This partnership establishes a strong platform of growth for Greenstar in the central portion of the U.S. with a leadership position in several of the fastest growing municipalities in the country (Dallas-Ft. Worth, Houston and San Antonio).

"Greenstar is dedicated to offering sustainable, professional and progressive services in the recycle market," said Ragiel. "Through strategic operations such as these and expertise in the upgrading of specific commodities, we look forward to growing our leadership position and offering something new in the North American recycling industry."

About Greenstar

The Greenstar family of companies began in Ireland with an initial investment from NTR in 2001. Since then, Greenstar has developed into one of the leading recycling-led waste management companies in Ireland and the UK. Expansion into North America is providing opportunities for further growth and a source of additional commodities for sale to Greenstar's global customer base.

About NTR plc

NTR plc is a leading international developer and operator in renewable energy and sustainable waste management.

The company employs 1,600 people, has an annual turnover of in excess of $500 million and a market capitalization in excess of $1.6 billion. NTR has operations in Ireland, UK, Germany and the US.

Source: Green Star North America

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