Continental announces pending acquisitions.CLARK, N.J.--(BUSINESS WIRE)--May 14, 1996--Continental Waste Industries Inc. announced today that it has entered into definitive agreements to acquire several waste hauling, transfer and recycling operations in New Jersey, and a Class III construction and demolition site in North Central Florida North Central Florida is a region of the U.S. state of Florida. It comprises the north-central part of the state and encompasses Alachua, Bradford, Columbia, Gilchrist, Hamilton, Lafayette, Madison, Marion, Putnam, Suwannee and Union counties. Adding to its already pending acquisitions in the New Jersey market, on May 10, 1996, Continental entered into definitive agreements to acquire Raritan Valley Disposal Inc., Raritan Valley Recycling Inc., and West Jersey Mulch Inc., along with associated New Jersey real property in a stock-for-stock pooling transaction. Management of the acquired company will remain in place and continue operating and growing the businesses, which generated combined revenues of $13.2 million in 1995. Also in the New Jersey market, Continental announced the signing of definitive agreements with Linden Disposal Inc., which offers commercial and industrial collection services, Linden Recycling Inc., and Somerset Carting Inc., which offers residential collection services. The Linden and Somerset acquisitions involve combined estimated annual revenues of $4.5 million. These purchases will be paid for primarily with cash and by assumption of debt. Upon receipt of New Jersey D.E.P. approval for these transactions, both operations will be immediately integrated into the Statewide Environmental Contractors operating facility in South Plainfield South Plainfield, borough (1990 pop. 20,489), Middlesex co., NE N.J.; inc. 1926. It is the seat of several research and consulting firms and has plants that make chemicals, plastics, spices and flavorings, cosmetics, rubber products, pigments, electrical machinery, , N.J., pursuant to Continental's previously announced definitive agreements with Statewide. 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. of Continental, indicated that the company anticipates receipt of the DEP's approval for the Statewide transaction later this week, and expects to close the Statewide deal on or about May 20, 1996. In a further expansion into the central Florida
Central Florida is the central region of the United States state of Florida, on the East Coast. disposal market, Continental entered into an agreement to purchase, for cash, a Class III construction and demolition debris landfill located in North Central Florida. Closing on the transaction is subject to satisfactory completion of environmental 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 transfer of the permit which is expected to take approximately 30 days. 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. These services include non-hazardous landfill disposal, solid waste collection, and transfer station operations. The company currently owns and operates 10 landfills, nine collection operations, 13 transfer stations, and four recycling facilities. Continental has over 700 employees. Continental Waste Industries Inc.'s common stock is traded on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on 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 Inc., Clark Carlos Aguero, President and CEO Jeffrey E. Levine, General Counsel, 908/396-0018 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion