RALEIGH, N.C., Dec. 2 /PRNewswire-FirstCall/ -- Waste Industries USA, Inc.
(Nasdaq: WWIN), a regional, non-hazardous solid waste services company, today
announced the closing of an asset swap transaction with Waste Connections,
Inc.
Under the terms of the agreement, Waste Industries purchased Waste
Connection's hauling, transfer station and MSW landfill operations located in
the north and northwestern suburbs of Atlanta. Simultaneously Waste
Industries sold to Waste Connections its hauling and C&D landfill operations
in the greater Memphis, TN market and its hauling and transfer station
operation in Crossville, TN, which includes an early stage MSW landfill
development project in a neighboring county. Customers are being notified and
should experience no interruption of service. Both sides of the transaction
produced revenues of approximately $12 million per year.
Mr. Ven Poole, Vice President of Corporate Development for the Company
stated, "The deal makes a lot of sense for both companies from an efficiency
and internalization standpoint. It should enable us to more fully integrate
our Atlanta operations as well as increase the percentage of revenues we
derive from landfill operations both of which are long stated goals of our
Company."
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, economic trends, risks in the development and operation of
landfills 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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