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Portland and Specialty Transportation Services At a Crossroads

Published Friday, December 01, 2000

For the past 10 years, Specialty Transportation Services Inc. (STS), Portage, Ind., has moved nearly 750,000 annual tons of metropolitan Portland, Ore.'s trash from regional transfer stations to a landfill north of the city. But impending management changes at STS and financial troubles at STS' parent company have Portland's regional government, "Metro," re-thinking its contract. In September 1999, New York-based Churchill Environmental & Industrial Equity Partners purchased a majority of stock in STS' parent company, Asche Transportation Services, Shannon, Ill. Then in July 2000, Churchill loaned STS another $7 million, which could be converted into more than 70 ...

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