RALEIGH, N.C., June 13 /PRNewswire-FirstCall/ -- Waste Industries USA,
Inc. (Nasdaq: WWIN), a regional, non-hazardous solid waste services company,
today announced the closing of a simultaneous purchase and sale of certain
assets with a Waste Management, Inc. subsidiary.
Under the terms of the agreement, Waste Industries purchased the Waste
Management subsidiary's hauling operation located in Cedartown, Georgia, west
of Atlanta and certain customer accounts in Gwinnett County. Simultaneously
Waste Industries sold to Waste Management's subsidiary its hauling and
transfer station facility in Woodstock, Georgia, north of Atlanta along with
certain customer accounts located in Cherokee, Cobb, Fulton and Forsyth
counties. The transaction allows for an orderly transition and minimal
customer disruption.
Mr. Ven Poole, Vice President of Corporate Development for the Company
stated, "This is a great deal for Waste Industries and is a continuation of
our strategy to fully integrate our Atlanta operations. The majority of the
waste collected by the acquired operation will be internalized into our
recently acquired Grady Road landfill. The Cedartown operation is staffed by
very seasoned professionals and we are thrilled to have them joining our
team."
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, Mississippi, 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
acquisition growth, risks in the development and operation of landfills,
economic trends and weather conditions 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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