BFI TO FORM COMPANY IN MEXICO
BFI TO FORM COMPANY IN MEXICO HOUSTON, May 29 /PRNewswire/ -- Browning-Ferris Industries, Inc.
(NYSE: BFI), said today that it has signed an agreement with Domos Internacional, S.A. de C.V., to form Browning-Ferris Industries de Mexico, S.A. de C.V. The company will seek long-term municipal collection and disposal contracts throughout the country.
Browning-Ferris Industries de Mexico will be 51 percent owned by Domos Internacional, a Mexican company whose principal is Javier Garza Calderon, and 49 percent owned by a subsidiary of Browning-Ferris Industries, Inc. According to Gene Shepard, a BFI executive and nominee as CEO of Browning-Ferris Industries de Mexico, Mexico, is on a program to privatize much of industry and services that traditionally have been government owned. "We are excited by the opportunities that Mexico -- with a population of 81 million -- presents in solid waste," Shepard said. "We are now looking at opportunities in three cities." Domos Internacional is a consortium of Mexican companies involved in the environmental protection and improvement field, including design, engineering, equipment and operation of wastewater treatment plants, gas emission control equipment and water conditioning equipment. Browning-Ferris Industries, Inc., is one of the largest publicly- held companies engaged in providing waste services. Subsidiaries and affiliates collect, transport, treat and dispose of commercial, residential and municipal solid waste and industrial wastes. BFI subsidiaries are also involved in recycling, resource recovery facilities, medical waste services, portable restroom services, and municipal and commercial sweeping operations. -0- 5/29/92 /CONTACT: Peter Block of Browning-Ferris Industries, 713-870-7854/ (BFI) CO: Browning-Ferris Industries, Inc.; Domos Internacional, S.A. de C.V. ST: Texas IN: SU:
GK -- NY057 -- 5283 05/29/92 15:29 EDT
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|Date:||May 29, 1992|
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