UNITED WASTE SYSTEMS ACQUIRES TWO TRANSFER STATIONS WITH RELATED WASTE COLLECTION BUSINESS IN MINNESOTA; EXPANDS REVOLVING CREDIT FACILITY TO $165 MILLION.GREENWICH, Conn.--April 11, 1995--(BUSINESS WIRE)--United Waste Systems, Inc. (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 :UWST) announced today that it has completed the acquisition of Bellaire Sanitation, Inc., a solid waste collection company and transfer station in Stillwater, Minnesota, and Dakota Resource Recovery, Inc., a solid waste transfer station and recycling facility based in Inver Grove Heights, Minnesota Inver Grove Heights is a city in Dakota County, Minnesota, United States. The population was 29,751 at the 2000 census. Geography According to the United States Census Bureau, the city has a total area of 78.0 km² (30.1 mi²). 74.2 km² (28.6 mi²) of it is land and 3. . 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 for the combined companies are approximately $9.0 million. The acquisitions of Bellaire and Dakota will be integrated into United Waste's existing operations and will increase the amount of waste delivered to the Company's recently acquired landfill in Lake Mills, Iowa Lake Mills is a city in Winnebago County, Iowa, United States. The population was 2,140 at the 2000 census. Geography Lake Mills is located at (43.418289, -93.532010)GR1. . With these acquisitions, the Company has acquired approximately $49 million in annualized revenues since the beginning of the year. The Company also announced today that it has increased its revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility by $25 million to $165 million. The additional borrowing capacity will be available for general corporate purposes, including acquisitions. United Waste Systems currently owns or operates 15 nonhazardous landfills, 19 waste collection companies, 22 transfer stations and four composting facilities. CONTACT: Stuart Carlisle Dewe Rogerson Inc. 212/688-6840 OR Michael Nolan United Waste Systems, Inc. 203/622-6335 |
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