ALLIED WASTE INDUSTRIES ACQUIRES ILLINOIS OPERATIONS
ALLIED WASTE INDUSTRIES ACQUIRES ILLINOIS OPERATIONS HOUSTON, Jan. 29 /PRNewswire/ -- Allied Waste Industries, Inc.
(NASDAQ: AWIN) announced today that it has completed the acquisition of National Scavenger Services, Inc., a waste hauling, transfer and recycling company headquartered in Chicago, and R.18, Inc., a landfill company located in East Moline, Ill. Total consideration for the acquired companies was 3,570,000 shares of Allied common stock and cash and notes totalling $4,850,000. The companies are expected to report approximately $10.5 million in revenues for 1991.
Allied's Chairman, Roger A. Ramsey, stated, "The acquisition of National Scavenger and R.18 are important milestones for Allied Waste. They provide a substantial addition to the company's revenue and profitability and also demonstrate our continuing commitment to Allied's growth strategy -- the acquiring of rural landfill capacity, followed by the acquisition of collection companies to provide reliable waste streams to those landfills. Richard Van Hattem, the founder of National Scavenger, had been appointed vice president and regional manager of the newly established Midwest Region. Van Hattem has demonstrated considerable skill in the management and growth of National Scavenger and we consider him a valuable addition to our management team." Allied Waste Industries, Inc., headquartered in Houston, provides non-hazardous solid waste collection, recycling and disposal services principally in rural and suburban areas in the midwestern and southwestern United States. -0- 1/29/92 /CONTACT: David M.K. Ruth of Allied Waste Industries, 713-664-1888/ (AWIN) CO: Allied Waste Industries Inc.; National Scavenger Services ST: Texas, Illinois IN: SU: TNM
TS -- NY047 -- 4734 01/29/92 12:23 EST
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|Date:||Jan 29, 1992|
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