-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FG2v3wXatZGWp0n1qiqMd5SKEkidm3GIMAcYN07PCoNsxOyZFWVXRKb8It1iQvlB qj8BO7UuqtIPBWQ+gm7zoQ== 0001104659-07-035144.txt : 20070503 0001104659-07-035144.hdr.sgml : 20070503 20070503100913 ACCESSION NUMBER: 0001104659-07-035144 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070430 ITEM INFORMATION: Material Impairments ITEM INFORMATION: Other Events FILED AS OF DATE: 20070503 DATE AS OF CHANGE: 20070503 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CASELLA WASTE SYSTEMS INC CENTRAL INDEX KEY: 0000911177 STANDARD INDUSTRIAL CLASSIFICATION: REFUSE SYSTEMS [4953] IRS NUMBER: 030338873 STATE OF INCORPORATION: DE FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-23211 FILM NUMBER: 07813262 BUSINESS ADDRESS: STREET 1: 25 GREENS HILL ROAD CITY: RUTLAND STATE: VT ZIP: 05701 BUSINESS PHONE: 8027750325 MAIL ADDRESS: STREET 1: 25 GREENS HILL ROAD CITY: RUTLAND STATE: VT ZIP: 05701 8-K 1 a07-13087_18k.htm 8-K

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  April 30, 2007

 

Casella Waste Systems, Inc.

(Exact Name of Registrant as Specified in Charter)

 

Delaware

 

000-23211

 

03-0338873

(State or Other Jurisdiction
of Incorporation)

 

(Commission
File Number)

 

(IRS Employer
Identification No.)

 

25 Greens Hill Lane

 

 

Rutland, Vermont

 

05701

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (802) 775-0325

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 



 

Item 2.06  Material Impairments

As previously reported, the Registrant’s Hardwick Landfill was closed following the defeat of a proposed amendment to the Hardwick zoning bylaws at a Hardwick Town Meeting held in January 2007.  Following such closure, management has reviewed its options available and efforts to overturn the adverse decisions of the Town of Hardwick and its Zoning Board of Appeals, including the Registrant’s pending litigation and its efforts to effect a reconsideration of the adverse Town Meeting votes.  In connection with such review, management assessed the likelihood of a successful outcome in relation to the expected costs of those efforts, and on the basis of the assessment management recommended to the Board of Directors of the Registrant that the Registrant cease such efforts.  Effective April 30, 2007, the Board of Directors of the Registrant approved a resolution concluding that a material charge for impairment and acceleration of capping, closure and post closure of the Registrant’s Hardwick Landfill is required.  The Registrant estimates that the total charge will be up to $26.0 million, including an estimated $9.0 million in future cash expenditures on capping, closure and post closure.

Item 8.01 Other Events.

On April 30, 2007, the Registrant sold its Holliston Transfer Station and related equipment to an affiliate of Covanta Holding Corporation.  Net proceeds of the sale were approximately $7.4 million, resulting in a loss to the Registrant of approximately $1.0 million.

For the nine months ended January 31, 2007, Hardwick and Holliston reported negative operating income of $2.2 million and $0.03 million, respectively.

2



 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CASELLA WASTE SYSTEMS, INC.

 

 

 

Date: May 3, 2007

By:

/s/ Richard A. Norris

 

 

Richard A. Norris
Senior Vice President and
Chief Financial Officer

 

3


 -----END PRIVACY-ENHANCED MESSAGE-----