Calgary, AB – Industrial waste management company Newalta Income Fund says it is acquiring Montreal-based Nova Pb for $55 million. Closing is expected to occur on November 1.
Nova operates Canada’s largest integrated lead battery recycling facility located on a 20-hectare site in Ville Ste-Catherine, Quebec, 12 kilometres from Newalta’s new transfer station in Chateauguay. The facility has the capacity, with two long-body rotary kilns, to process up to 200,000 tonnes of used batteries and can produce up to 100,000 tonnes of recycled lead per year. Nova employs 115 people and is a leading supplier of custom lead alloys to the automotive and industrial battery manufacturing industries.
“The addition of Nova’s industry-leading operations and experienced people doubles Newalta’s presence in Quebec, provides tremendous opportunity to expand our market coverage in the province, and diversifies our services for our customers in eastern Canada,” says Al Cadotte, Newalta’s president and CEO.