French waste-management giant Veolia announced plans to purchase King of Prussia’s Clean Earth, writes Joseph N. DiStefano for The Philadelphia Inquirer.
The $3 billion acquisition of the waste recycler will expand Veolia’s U.S. operations, positioning the company as one of the largest players in the industry.
Clean Earth employs roughly 1,800 people and handles contaminated materials for manufacturers such as Boeing, Merck, and leading hospital networks. The company operates dozens of treatment and disposal sites nationwide. It manages tar-contaminated soil facilities along the Schuylkill in Southwest Philadelphia and Morrisville, as well as a hazardous-waste location in Hatfield.
Veolia already burns some of Clean Earth’s medical and industrial waste at its incinerators and says the combined business will streamline operations and reduce spending by $120 million.
For Enviri, Clean Earth’s parent company, the sale marks a significant strategic pivot. Enviri purchased Clean Earth in 2019 for $625 million and later moved its headquarters from central Pennsylvania to Philadelphia to attract engineering and management talent.
After the sale closes, Enviri will spin off its remaining steel slag and rail maintenance divisions, with longtime executive Russell Hochman set to replace outgoing CEO F. Nicholas Grasberger.
To learn more about King of Prussia’s Clean Earth and its acquisition, visit The Philadelphia Inquirer.
