Dive Brief:
- New Orleans businessman Sidney Torres IV is returning to the waste industry with a new collection company called IV Waste.
- Torres is well known for his previous company, SDT Waste & Debris Services, which was formed in the aftermath of Hurricane Katrina and earned a reputation for helping keep streets clean as the city rebuilt.
- IV Waste currently has eight trucks and a maintenance yard. Torres plans to focus on commercial customers such as hotels and restaurants to start the business, though is potentially interested in local government contracts. Service will begin on August 1.
Dive Insight:
Torres comes from a locally "famous" family and got his start in real estate. He eventually grew SDT to a 250-person company with accounts in multiple parishes. In 2011, he sold the company to IESI for an undisclosed amount. After the sale he planned to focus solely on real estate, but once his non-compete agreement with IESI expired earlier this year he decided to get back into waste.
IV Waste will use the same GPS-tracking technology and signature lemon-scented spray from SDT Waste, along with many of the same employees. Torres' reputation for timely pick-ups and odor-reducing methods were always popular and more than 200 customers have already called to switch their service. The city currently has collection contracts in place through the end of the year, but it's possible that IV Waste could get involved again for select areas.
New Orleans has introduced some innovative programs for cigarette butts and oyster shells, but has struggled to stabilize efforts in some areas, such as glass recycling. The service wasn't available in some areas for 10 years after Katrina and participation in the voluntary program was found to be very low earlier this year.
