- Advanced Drainage Systems Inc WMS acquired a privately-owned recycling company, Jet Polymer Recycling, located in the southeastern region of the U.S. Financial terms were not disclosed.
- Jet Polymer has three plastic recycling locations in Alabama and Georgia; and is a supplier of recycled polypropylene plastic for Infiltrator Water Technologies, a subsidiary of Advanced Drainage Systems.
- "This acquisition advances our strategic priority to expand the ADS Recycling capabilities to support future growth while also underpinning ADS' commitment to environmental sustainability," commented CEO Scott Barbour.
- Advanced Drainage Systems held total liquidity of $229 million, comprised of cash of $14 million as of September 30, 2021.
- Price Action: WMS shares closed lower by 0.64% at $125.35 on Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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