ALLIED WASTE ACQUIRES W.J. FLYTE CORPORATION
ALLIED WASTE ACQUIRES W.J. FLYTE CORPORATION HOUSTON, Feb. 3 /PRNewswire/ -- Allied Waste Industries, Inc.
(NASDAQ: AWIN) announced today that it has completed the acquisition of the W.J. Flyte Corporation, a solid waste collection company headquartered in Apache Junction, Ariz. Consideration for the acquisition was $2,500,000 in cash and 82,645 shares of Allied common stock. The company is expected to report $2,300,000 in revenues for 1991. In addition to Apache Junction, a rapidly growing residential community located about 25 miles east of Phoenix, Flyte also provides collection services to Paradise Valley.
Allied also announced that as a result of the merger of its Specialized Waste Systems subsidiary with J.D. Lee, Inc., Allied has exchanged its common stock ownership of Specialized for voting preferred stock in the combined company. The combined company will continue doing business as Specialized Waste Systems and will provide expanded industrial plant waste collection and disposal services to companies located, primarily, in the Gulf Coast area. Allied Waste Industries, Inc., headquartered in Houston, provides non-hazardous solid waste collection, disposal and recycling services principally in rural and suburban areas in the midwestern and southwestern United States. -0- 2/3/92 /CONTACT: David Ruth of Allied Waste Industries, 713-664-1888/ (AWIN) CO: Allied Waste Industries, Inc.; W.J. Flyte Corporation ST: Texas, Arizona IN: SU: TNM
KD -- NY100 -- 6374 02/03/92 16:58 EST
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|Date:||Feb 3, 1992|
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