Waste Management created a
new group focused on pulp and paper trading. The new group, the company hopes,
will reduce WMI’s exposure to volatile commodity prices.
According to Maurice Myers,
chairman, president and CEO of Waste Management, the company will begin the
process by focusing on managing the company's four million tons of paper
collected each year.
The company expects
transactions through the trading group will not occur until the third quarter
of the year when WMI has completed the implementation of standard trading
control systems and organizational capabilities.
``The new trading group will
differentiate us from our competitors in that we will be providing our
municipal, national account and mill customers with an opportunity to directly
manage their commodity price exposure,'' said Steve Ragiel, vice president of
recycling for Waste Management.
Over the past three years,
the company has taken steps to reduce the overall commodity price risk of
recycling by placing 75 percent of its commodities under long-term physical
delivery contracts with floor prices. The creation of the trading group allows
the company to continue to reduce its overall commodity price exposure while
strengthening its leadership role in the industry. (Steve Ragiel will be
speaking at the Paper Recycling Conference in Chicago June 24-26.).
Explore the June 2001 Issue
Check out more from this issue and find your next story to read.
Latest from Recycling Today
- Volvo adds two models to updated excavator line
- Harsco brands slag-content asphalt as SteelPhalt
- ArcelorMittal puts French EAF conversions on hold
- Associations ask for effective EPR to drive textile circularity in Europe
- GESA report claims 72 countries recycled EPS in 2023
- Report: Saica exploring recycled paper mill project in Dayton, Ohio
- Hydro’s Alumetal to meet 15 percent of its energy demands through solar
- CSA Group publishes standard defining plastics recycling in Canada
