Waste Management may build trash to energy plants in China to grow revenue
Waste Management Inc. the biggest company in the U.S. that transports trash is in talks to build and operate waste-to-energy plants in China.
(IBTimes) -- 04/09/2009 --

Waste Management Inc. the biggest company in the U.S. that transports trash is in talks to build and operate waste-to-energy plants in China.

Waste Management is planning to work with a subsidiary of Shanghai Chengtou Holding Co., Chief executive David Steiner said, according to Bloomberg. This would be the first step towards an initiative to increase energy revenue to about 20 percent of the company's sales.

"I think it's time for us to start looking to grow...It happens to be at a time when there are lots of distressed assets out there," Steiner said according to Bloomberg.

China estimates it will build more than 100 waste-to-energy plants in the next 5 years, the paper noted. The company generates energy by channeling landfill gas and incinerating the garbage.

About International Business Times

The International Business Times is composed of twelve high-growth online editions (ibtimes.com) that give readers local reports balanced with multinational perspectives. Exclusive and transparent insights from global markets make The International Business Times an indispensable news source for business-minded individuals.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here