Sooner or later, every growing business will likely need an Act 250 or environmental permits to either move into a new facility, or construct more space. Knowing what to expect, and how to get started are the keys to obtaining your permit as quickly and easily as possible.The Vermont Small Business Act 250 Fact Sheet is designed for businesses, that are not yet familiar with Vermont’s Act 250 process. Created by the Vermont Environmental Assistance Partnership (SBDC, VMEC, VT-ANR, Dept. of Economic Development) in cooperation with the VT Environmental Board.On the web at: www.veap.org/news.shtml(link is external)or by calling 802-728-1423
SOURCE Plasan. BENNINGTON, Vt., Oct. 12, 2009 /PRNewswire/ — Plasan, a global leader in survivability and combat-proven armor solutions for vehicles, airborne platforms and personal protection, today announced it has won yet another contract for the delivery of 923 armor kits for the U.S. Army’s MRAP All-Terrain Vehicle (M-ATV) as sub-contractor to Oshkosh Defense. Today’s announcement of additional orders comes just one week after Plasan announced meeting a significant delivery milestone of 750 armor kits on the M-ATV contract.Mr. Dan Ziv, CEO of Plasan, said of the contract: “Plasan continues to expand our operations, creating jobs and protecting warfighters. As soldiers building for soldiers, Plasan understands that these armor solutions are critically needed.”Plasan North America and its local sub-contractors have made advance preparations to comply with strict composite specifications and a tight delivery schedule. Through the application of the modular Kitted Hull concept, developed by Plasan, all armor parts and components are sent to the vehicle’s manufacturer where they are applied to the vehicle at the assembly line, thus improving efficiency and reliability. Plasan’s production capabilities are complemented by a comprehensive supply chain that encompasses suppliers of materials, equipment and solutions throughout the U.S. This extensive network enables the production capacity the necessary flexibility to expand or reduce production volumes according to demand.About PlasanPlasan provides customized survivability solutions for tactical wheeled vehicles, aircraft, naval platforms, civilian armored vehicles and personal protection. A recognized global leader and industry veteran, Plasan’s survivability solutions offer the optimal combination of protection, payload, and cost by combining in-house R&D, design, prototyping and manufacturing capabilities.Plasan combines innovative survivability engineering and design with advanced armor materials development. Its unique development process is based on continuous interaction between the R&D and the Design & Prototyping departments. During this process, Plasan combines computer-generated analysis and simulations with real-time calibration and ballistic test data. The effective combination of test and simulation data enables improved simulation accuracy and performance, resulting in the optimal survivability solution.Plasan’s engineers are unique in terms of their military backgrounds and hands-on experience. As veterans of the Israel Defense Forces they are familiar with soldiers’ behavior during combat and share a common language with the end user. This often contributes to the development of life saving solutions.Plasan’s success is a combination of innovation, a high level of commitment and a full range of in-house capabilities. As a preferred supplier to the Israel Defense Forces and an approved supplier to ministries of defense around the world, Plasan’s solutions have been tried and tested by dozens of armed forces in the most demanding battlefields such as Lebanon, Iraq and Afghanistan.Qorvis CommunicationsPlasan Sasa Ltd.Additional information is available at the Department of Justice
RUTLAND, VT–(Marketwire – March 01, 2011) – Casella Waste Systems, Inc. Casella Waste Systems Inc,Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste, recycling and resource management services company, announced today that it has completed the sale of select non-integrated recycling assets to a new company formed by Pegasus Capital Advisors, L.P. and Intersection, LLC for $134.1 million in gross proceeds, including an estimated $3.7 million working capital adjustment.Highlights include:* Net cash proceeds of approximately $120.0 million to be used to repay Senior Secured Term Loan B borrowings.* Transaction results in pro forma leverage of 4.0x, down 0.4x from the October 31, 2010 leverage of 4.4x, as calculated per Senior Secured Credit Agreement.* The assets sold as part of this transaction contributed $14.0 million consolidated Adjusted EBITDA* for the twelve months ended October 31, 2010.* The divested assets include the FCR recycling assets located outside the company’s core operating region of New York, Massachusetts, Vermont, New Hampshire, Maine and northern Pennsylvania, including 17 material recycling facilities, 1 transfer station and certain related intellectual property assets.* Casella’s business strategy remains focused on providing integrated solid waste, recycling, and resource transformation solutions to its customers throughout the Northeastern U.S.”A little over a year ago we laid out an ambitious plan to drive long-term shareholder value by selling non-integrated assets to reduce leverage and improve our balance sheet,” said John W. Casella, chairman and CEO of Casella Waste Systems. “With the closing of this divestiture we have made substantial progress towards our debt reduction goals, and we are well positioned for the future with a stronger balance sheet and a solid operating platform.”*Non-GAAP Financial MeasuresFor the twelve months ended October 31, 2010, the assets to be sold as part of this transaction contributed $14.0 million consolidated Adjusted EBITDA which can be reconciled to Net Income as follows, $10.3 million of Net Income plus $4.2 million of Depreciation and Amortization less ($0.5) million of Other (Income).In addition to disclosing financial results prepared in accordance with Generally Accepted Accounting Principles (GAAP), the company also discloses earnings before interest, taxes, depreciation and amortization, adjusted for accretion, depletion of landfill operating lease obligations, severance and reorganization charges, a goodwill impairment charge, an environmental remediation charge as well as development project charges (Adjusted EBITDA) which is a non-GAAP measure and can be reconciled to Net Income (Loss).We present Adjusted EBITDA because we consider it to be an important supplemental measure of our performance and believe it is frequently used by securities analysts, investors and other interested parties in the evaluation of our results. Management uses this non-GAAP measure to further understand our “core operating performance.” We believe our “core operating performance” represents our on-going performance in the ordinary course of operations. We believe that providing Adjusted EBITDA to investors, in addition to corresponding income statement measures, provides investors the benefit of viewing our performance using the same financial metrics that the management team uses in making many key decisions and understanding how the core business and its results of operations may look in the future. We further believe that providing this information allows our investors greater transparency and a better understanding of our core financial performance. In addition, the instrument s governing our indebtedness use a bank defined cash flow metric (Adjusted EBITDA with additional adjustments) to measure our compliance with covenants such as interest coverage, leverage and debt incurrence.Non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles in the U.S. Adjusted EBITDA should not be considered in isolation from or as a substitute for financial information presented in accordance with generally accepted accounting principles in the U.S., and may be different from Adjusted EBITDA presented by other companies.About Casella Waste Systems, Inc.Casella Waste Systems, Inc., headquartered in Rutland, Vermont, provides solid waste, recycling and resource management services in the northeastern United States. For further information, contact Ned Coletta, vice president of finance and investor relations at (802) 772-2239, or Ed Johnson, chief financial officer at (802) 772-2241, or visit the company’s website at http://www.casella.com(link is external).Safe Harbor StatementCertain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by the context of the statements, including words such as we “believe,” “expect,” “anticipate,” “plan,” “may,” “will,” “would,” “intend,” “estimate” and other similar expressions, whether in the negative or affirmative. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the disposition and the industry and markets in which we operate and management’s beliefs and assumptions. We cannot guarantee that we actually will achieve the plans, intentions or expectations disclosed in the forward-looking statements made. Such forward-looking statements, and all phases of our operations, involve a number of risks and uncertainties, any one or more of whic h could cause actual results to differ materially from those described in our forward-looking statements. Such risks and uncertainties include or relate to, among other things those detailed in Item 1A, “Risk Factors” in our Form 10-K for the year ended April 30, 2010. We undertake no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
The US Department of Housing and Urban Development (HUD) today awarded Vermont $336,683 to help public housing agencies to retain or hire service coordinators to work directly with families who participate in HUD’s Housing Choice Voucher program. The coordinators will assist these voucher recipients to find employment resources and job training opportunities to put them on a path toward self-sufficiency. ‘In today’s economy, it’s never been more critical to help families obtain the skills that lead to jobs,’ said HUD Secretary Shaun Donovan. ‘With HUD’s help, these housing agencies will be able to assist families in finding employment, increasing their earning potential and putting them on a path to self sufficiency.’ VermontBurlington Housing AuthorityVT001$101,685 Vermont State Housing AuthorityVT901$234,998 Vermont Total $336,683HUD’s Housing Choice Voucher Family Self-Sufficiency Program (HCV/FSS) supports public housing agencies (PHAs) to retain or hire family self-sufficiency coordinators. These coordinators in turn link adults in the HCV program with welfare agencies, schools, businesses and other local partners to develop the skills and experience to enable them to obtain jobs that pay a living wage. The local organizations typically provide participating individuals job training, childcare, counseling, transportation, job placement and homeownership counseling.Participants in the HCV-FSS program sign a contract that requires the head of the household will get a job and the family will no longer receive welfare assistance at the end of the five-year term. As the family’s income rises, a portion of that increased income is deposited in an interest-bearing escrow account. If the family completes its FSS contract, the family receives the escrow funds that it can use for any purpose, including a down payment on a home, paying educational expenses, starting a business or paying back debts. HUD’s Family Self Sufficiency (FSS) Program is a long-standing resource for increasing economic security and self-sufficiency among participants. HUD issued a new report earlier this yearthat evaluated the effectiveness of the FSS Program. Conducted from 2005 to 2009, the study shows the financial benefits are substantial for participants who complete the program. This study is the second of a three-part series by HUD that evaluate the effects of the FSS program. The first study found individuals who participated in the FSS program fared better financially than those who did not enroll in the program. HUD’s Office of Policy Development and Research (PD&R) will launch the third and final installment to complete the series this year. See national impact of HUD’s grant funding here. HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business. More information about HUD and its programs is available on the Internet at www.hud.gov(link is external) and http://espanol.hud.gov(link is external). You can also follow HUD on twitter @HUDnews, on facebook at www.facebook.com/HUD(link is external), or sign up for news alerts on HUD’s News Listserv.