Continental announces acquisition of collection and transfer recycling operation and landfill development projects.CLARK, N.J.--(BUSINESS WIRE)--Feb. 16, 1996--Continental Waste Industries Inc. announced today that it had signed a letter of intent to acquire a central New Jersey waste collection and transfer/recycling operation, producing estimated annual revenue of $13 million.
The transaction is subject to completion of 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 New Jersey state regulatory approval on the transfer of the license and permit. The purchase price, which was not disclosed, will be paid principally through a draw down on Continental's credit facility and with common stock.
Continental believes that it will gain regulatory approval to increase permitted waste flow through the transfer/recycling facility allowing for tuck in acquisitions in the same market area.
In addition, the company announced that its subsidiary, NationsWaste Inc. has been selected by the Three Rivers Three Rivers, Que., Canada: see Trois Rivières. Solid Waste Authority in Aiken County Aiken County can refer to
The facility will initially serve a nine county region that collectively generates approximately 1,000 tons per day and, assuming a contract is signed by March 1st, should be in operation by the end of 1996.
Continental provides integrated solid waste management services to approximately 175,000 residential, commercial and industrial customers concentrated in the midwestern and mid-south regions 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. , 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. and in Mexico. These services include non-hazardous landfill disposal, solid waste collection, and transfer station operations.
Continental currently owns and operates nine landfills, nine collection operations, 14 transfer stations, three 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, and employs over 700 persons.
CONTACT: Continental Waste Industries Inc., Clark
Carlos E. Aguero or Michael J. Drury, 908/396-0018