Continental Waste announces additional pending acquisitions.CLARK, N.J.--(BUSINESS WIRE)--May 22, 1996--Continental Waste Industries Inc. announced today that it has entered into letters of intent to acquire two additional waste hauling operations in New Jersey. The company anticipates these acquisitions will generate annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. combined revenues of $22 million. This increases to seven the number of companies (six in New Jersey) currently under definitive agreement or letter of intent to be acquired by Continental, having aggregate annual revenues of $55 million. The proposed transactions, which will be subject to purchase accounting, will be closed following the execution of definitive agreements and satisfaction of other customary closing conditions, including company due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , and the approval of the company's board of directors and state regulators. Upon closing the transactions, it is expected that members of existing management in the acquired companies will remain to operate the businesses, which would be combined. Carlos E. Aguero, Continental's president and chief executive officer, said today that, in view of Continental's recent announcement of a letter of intent to merge the company into Republic Industries Inc., "We are committed to continuing our aggressive acquisition program in order to create even greater value both for our shareholders and for Republic." Continental provides integrated solid waste management services to residential, commercial and industrial customers concentrated in the eastern half of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and in Costa Rica Costa Rica (kŏs`tə rē`kə), officially Republic of Costa Rica, republic (2005 est. pop. 4,016,000), 19,575 sq mi (50,700 sq km), Central America. . These services include non-hazardous landfill disposal, solid waste collection, and transfer station operations and recycling recycling, the process of recovering and reusing waste products—from household use, manufacturing, agriculture, and business—and thereby reducing their burden on the environment. facilities. The company currently owns and operates 11 landfills, 11 collection operations, 14 transfer stations and six recycling facilities. Continental has over 850 employees. Continental Waste Industries Inc.'s common stock is traded on the Nasdaq National Market under the symbol CONT CONT Continue CONT Contain CONT Continue/Continued CONT Control CONT Contents CONT Controller CONT Contractor CONT Continuous CONT Contrast CONT Container CONT Continuation Cont Contamination CONT Continent CONT Contingency CONT Contactor . CONTACT: Continental Waste Industries, Clark Carlos E. Aguero, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Jeffrey E. Levine, general counsel, 908/396-0018 |
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