RALEIGH, N.C., April 18 /PRNewswire-FirstCall/ -- Waste Industries USA,
Inc. (Nasdaq: WWIN), a regional, non-hazardous solid waste services company,
today announced the acquisition of the assets of, Piedmont-McKinney LLC,
Foreman's Sanitation, Inc. and certain hauling and transfer assets from Waste
Management, Inc. The annual revenue from all three transactions total over
$11.7 million.
Piedmont-McKinney provides commercial service to customers in the Winston
Salem, Greensboro, and High Point market areas of North Carolina and tucks
into our existing Triad operation.
Foreman's Sanitation provides private subscription residential services in
the West Atlanta suburbs of Douglas and Cobb Counties and is a tuck-in
acquisition to current operations in Powder Springs, Georgia. We plan to
internalize volumes collected by this acquisition into the Grady Road landfill
acquired last December from Waste Connections.
The third transaction is the purchase of assets from a Waste Management,
Inc. subsidiary in eastern North Carolina. This purchase consists of two
hauling operations and two transfer stations. The hauling operations will
operate adjacent to our residential, commercial and industrial operations in
Rocky Mount and Greenville, North Carolina. The transfer stations should
provide additional opportunities to internalize waste into our Sampson
landfill.
"With over $11.7 million in new annualized revenues and strategic
locations, these three acquisitions represent a continuation of our long-
stated strategy to improve operating margins through routing efficiencies,
reduced SG&A and increased internalization," stated Ven Poole, Vice President
of Corporate Development.
Waste Industries USA, Inc. is a vertically integrated solid waste services
company that provides collection, transfer, disposal and recycling services to
commercial, industrial and residential customer locations in the states of
North Carolina, South Carolina, Virginia, Georgia, Tennessee, and Florida.
This press release contains "forward-looking statements" under the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
can generally be identified as such because the statement will include words
such as the Company "expects," "believes," "anticipates" or words of similar
import. Similarly, statements that describe the Company's future plans,
objectives or goals are also forward-looking statements. Forward-looking
statements are subject to risks and uncertainties, such as managing growth,
risks in the development and operation of landfills, weather conditions and
economic trends that could cause actual results to differ materially from
those currently anticipated. Consider these factors carefully in evaluating
the forward-looking statements. Additional information concerning factors
that could cause actual results to differ materially from those in the
forward-looking statements is contained from time to time in the Company's SEC
filings. The forward-looking statements made herein are only made as of the
date of this press release and the Company undertakes no obligation to
publicly update such forward-looking statements.
SOURCE Waste Industries USA, Inc.
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Related links:
http://www.waste-ind.com
Company News On-Call:
http://www.prnewswire.com/comp/120685.html
CONTACT:
Carol Dalton of Waste Industries USA, Inc.,
+1-919-325-3000
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