Superior Services Disciplined Growth Strategy Generates Strong Results.WEST ALLIS West Allis, city (1990 pop. 63,221), Milwaukee co., SE Wis., a residential and industrial suburb of Milwaukee; inc. 1902. Mobile equipment, electronic products, generators, and heavy machinery are among its manufactures. , Wis.--(BUSINESS WIRE)--Feb. 26, 1998-- Strategic Acquisitions Add $75.3 Million in 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. Revenues in 1997 Moves To Open New Markets, Strengthen Superior's Position in Existing Markets Superior Services, Inc. today announced it closed on 26 acquisitions in 1997 with annualized revenues of more than $75.3 million. "We are clearly seeing the results of our disciplined growth strategy. Superior entered 12 new service areas and four new states in 1997, and made 15 tuck-in acquisitions last year, which further enhanced our position in existing markets," said G.W. "Bill" Dietrich, 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 Superior Services, Inc., a fully-integrated solid waste services company, which now operates in 10 states. "The acquisitions represent a balanced approach of opening new markets with landfill acquisitions and expanding our presence in the market with acquisitions of collection operations to internalize internalize To send a customer order from a brokerage firm to the firm's own specialist or market maker. Internalizing an order allows a broker to share in the profit (spread between the bid and ask) of executing the order. waste at our landfills," he said. Dietrich said he was very pleased with the growing size and character of the company's acquisition pipeline, noting that Superior Services has acquired nearly $100 million in annualized revenues since going public in 1996, having integrated more than 80 businesses including the original merger of 22 businesses in 1993. "We are focused on doing the right deals in the best markets. We are not in a race to put pins on the map," Dietrich said. He added that Superior Services wants to close acquisitions with annualized revenues of approximately $33 million in the first quarter of 1998. Additionally, Superior is focused on target prospects with about $167 million in annualized revenues. "Our pipeline of prospects continues to grow, and we've never had so many opportunities on our plate. We have cash, an untapped significant debt capability to leverage our balance sheet and stock, which is becoming more attractive to prospective acquisition candidates," Dietrich said. Superior Services closed four acquisitions representing $3 million in annualized revenue in 1995. In 1996, Superior completed 13 transactions representing $21 million in annualized revenues. Superior's market development efforts resulted in 26 transactions in 1997, representing $75.3 in annualized revenues. Dietrich said Superior Services has set a goal of entering four or five new markets every year. The company entered four new states in 1997, including Alabama, Ohio, Pennsylvania and West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. , and expanded its presence in its existing markets. "Superior Services has successfully moved beyond the 'Wisconsin only' label. We have moved aggressively to develop fully-integrated solid waste businesses in our new markets," said Dietrich. Superior Services entered the Ohio market in early 1997, with the purchase of the solid waste collection and recycling operations of Milliron Industries in Mansfield, Ohio Mansfield is a city in the U.S. state of Ohio and the county seat of Richland CountyGR6. The municipality is located in north-central Ohio in the western foothills of the Alleghenies, approximately 80 miles (129 km) southwest of Cleveland and 66 miles . The Milliron acquisition included a new solid waste landfill in Richland County Richland County is the name of several counties in the United States:
Ohio, located midway between Columbus and Cleveland. The new landfill, which opened in November 1997, is now called Superior Oakland Marsh Landfill. Superior Services moved quickly to strengthen its Ohio market position with two strategic acquisitions. Superior Services acquired BFI BFI - brute force and ignorance Waste Systems of Ohio, Inc. Columbus District, which included solid waste collection and recycling operations in Columbus and Zanesville, as well as a transfer station in Zanesville. Superior Services then acquired Ohio Disposal Systems, Inc., the largest independent commercial and industrial waste collection company in Columbus. "The opening of Oakland Marsh Landfill and the increasing volumes from our Zanesville transfer station are important steps in our strategy to aggressively develop the Ohio market," Dietrich said. Superior Services also entered the Pennsylvania market in April, 1997, with the acquisition of a solid waste landfill and collection and recycling operations of BFI, in the City of Du Bois Du Bois (d `bois, dəbois`), city (1990 pop. 8,286), Clearfield co., W central Pa., in the region of the Allegheny plateau; inc. 1881. , in Northcentral Pennsylvania. The landfill located in nearby Kersey kerseycoarse, narrow cloth used for leg bandages in horses. is now called Superior Greentree Landfill. Superior Services followed with three more acquisitions of solid waste collection operations in Northcentral Pennsylvania: St. Mary's Garbage Disposal Noun 1. garbage disposal - a kitchen appliance for disposing of garbage electric pig, disposal kitchen appliance - a home appliance used in preparing food garbage disposal, garbage disposal unit n , Inc., located in St. Mary's; Facchine Sanitation, Inc. in Du Bois; and Olosky Sanitation, Inc., in nearby Clearfield County. Superior Services opened the Alabama market in June, 1997, with the acquisition of the solid waste operations of Resource Recovery Transfer & Transportation, Inc., in Northern Alabama. The acquisition included: the Urban Sanitation Landfill in St. Clair County St. Clair County is the name of four counties in the United States:
Superior Services entered the West Virginia market in September, 1997, when it signed a definitive agreement to acquire the Sycamore Landfill in central West Virginia, between Charleston and Huntington. Superior has received state approval to manage the landfill under an Interim Operating Agreement An operating agreement is an agreement among limited liability company ("LLC") members governing the LLC's business, and Member's financial and management rights and duties. No state requires an LLC to have an Operating agreement. , pending state approval of the transaction. Superior Services expanded its presence in Missouri with the acquisition of Teter Sanitary Landfill sanitary landfill: see solid waste. and Refuse Hauling, Inc., in Macon, about 60 miles north of Columbia. In addition to collection operations in more than 100 communities in 15 counties, the acquisition included an 18-acre landfill, now called Superior Maple Hill Landfill. The State of Missouri currently is considering a proposal to expand the landfill by 85 acres. Superior Services also strengthened its presence in St. Louis, with the acquisition of High Ridge Disposal in Jefferson County. Superior had entered the St. Louis market in late 1996, with the acquisition of the West County Landfill, now called Superior Oak Ridge Landfill, and Wilson Refuse Removal, Inc., a major independent collection operation serving 40,000 residential and commercial customers in the St. Louis area. Superior Services also expanded its special waste operations in Minnesota, Wisconsin and Northern Illinois with the acquisition of those portions of Dynex Industries, Inc., which provide fluorescent lamp recycling Fluorescent lamp recycling is the recycling of fluorescent lamps. The fluorescent lamp is made with a glass tube coated with a phosphorus compound (the white dust) on the inside, and filled with a small quantity of mercury. ; recovery and recycling of mercury; hazardous and non-hazardous waste brokerage; on-site lab pack; household-hazardous waste collection; and industrial special waste transportation. Dietrich said Superior Services also made some significant progress with regulatory approvals to open a new, and expand an existing, Wisconsin landfill. Superior Services received approval from the Wisconsin Department of Natural Resources The Wisconsin Department of Natural Resources (WDNR) is an agency of the state of Wisconsin. Its purpose is to preserve, protect, manage and maintain the natural resources of the state[1]. (WDNR WDNR Wisconsin Department of Natural Resources WDNR Washington State Department of Natural Resources ) on its plan of operation for the Superior Hickory Meadows Landfill, near Green Bay. Superior also reached an interim local agreement with the local governments, which allows some initial site preparation and infrastructure development. The landfill is scheduled to open in the fall of 1998. Superior Services also received WDNR approval of the feasibility report for the proposed expansion of its Superior Glacier Ridge Landfill in Eastern Wisconsin. The expansion would extend the life of the landfill by nearly six years. Superior has finalized a landfill siting agreement with the local negotiating committee, as required by Wisconsin state law. The WDNR feasibility approval and the local agreement are the key steps in the overall permitting process. Construction of the landfill is expected to begin in 1998. Superior Services, Inc. is an acquisition-oriented, fully- integrated solid waste services company that provides solid waste collection, transfer, recycling, disposal and special waste services to approximately 465,000 customers in 10 states. Since its original consolidation of 22 businesses in 1993, the company has acquired 62 businesses to build its network of 18 company-owned or operated solid waste landfills, 33 solid waste collection operations, 11 transfer stations and 15 recycling facilities. Superior Services' 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 , under the symbol SUPR SUPR Superior SUPR Special Unit on Palestinian Rights . Superior news releases are available on-line, 24-hours a day at: http://www.businesswire.com/cnn/supr.htm. CONTACT: Superior Services, Inc. George K. Farr, 414/328-2800 |
|
||||||||||||||

`bois, dəbois`)
Printer friendly
Cite/link
Email
Feedback
Reader Opinion