A privately held waste remediation company in Portland, RED Technologies LLC, has been acquired by an out-of-state sustainable waste business.
The buyer is Reworld Holding Corp., which is based in Morristown, New Jersey.
RED Technologies is a “profiled waste and field remediation company” that operates a transfer station with on-site rail transloading capabilities.
The facility identifies, sorts and manages or remediates waste streams, including contaminated soils, asbestos, PCBs, and containerized hazardous and non-hazardous waste. It handles more than 300,000 tons of material annually.
RED Technologies also has a fleet of 36 railcars and more than 100 vehicles and pieces of equipment.
The acquisition will strengthen Reworld’s operational and logistical capabilities in the Northeast, according to an announcement.
“Joining Reworld is an exciting step for our team and the communities we serve,” said Adam Westhaver, vice president of RED Technologies. “By combining our expertise and services with Reworld, we will enhance our ability to deliver innovative and sustainable waste management solutions.”
Reworld said it will leverage the new Portland facility to expand profiled waste services at its nearby facility, Bristol Resource Recovery Facility, previously known as Covanta.
