ALLIED WASTE ENTERS NEW MARKETS
ALLIED WASTE ENTERS NEW MARKETS HOUSTON, Dec. 9 /PRNewswire/ -- Allied Waste Industries, Inc.
(NASDAQ: AWIN) today announced it had entered new markets in Northern Arizona, New Mexico and Nevada by acquiring Super Services Waste Management, Inc. of Flagstaff, Arizona, in exchange for 920,000 shares of Allied common stock. Up to 920,000 additional Allied common shares may be issued if Super Services' calendar year 1992 profits before income taxes exceed targeted levels.
Roger A. Ramsey, Allied chairman, stated, "Super Services is expected to report calendar year 1991 revenues of approximately $4,100,000 which would increase Allied's 1991 pro forma revenues approximately $15 million, or almost three times the $5,277,000 we reported in calendar year 1990. We are delighted that Wayne Thompson will continue as president of Super Services. Both Wayne and I are excited about the opportunity for Super Services to grow by utilizing Allied's additional financial resources and operational expertise to enter new markets and to expand and improve services in existing markets." Allied is headquartered in Houston and provides non-hazardous waste collection, processing and disposal services, primarily in suburban and rural markets, in Arizona, Missouri, Nebraska, Nevada, New Mexico and Texas. -0- 12/9/91 R /CONTACT: Dan Ivan of Allied Waste Industries, 713-664-1888/ (AWIN) CO: Allied Waste Industries, Inc. ST: Texas, Arizona, New Mexico, Nevada IN: SU:
KJ -- NY051 -- 0766 12/09/91 19:09 EST
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|Date:||Dec 9, 1991|
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