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REPUBLIC WASTE TO ACQUIRE TREATMENT, STORAGE, AND DISPOSAL WASTE SERVICES COMPANY WHICH WILL MORE THAN DOUBLE 1992 REVENUE

 REPUBLIC WASTE TO ACQUIRE TREATMENT, STORAGE, AND DISPOSAL WASTE
 SERVICES COMPANY WHICH WILL MORE THAN DOUBLE 1992 REVENUE
 ATLANTA, Dec. 30 /PRNewswire/ -- Republic Waste Industries, Inc. (NASDAQ: RWIN) today announced that it has entered into an agreement to acquire all of the shares of Stout Environmental, Inc. of Thorofare, N.J., through a plan of merger and reorganization for shares of Republic Waste resulting in a pooling-of-interests for Republic.
 The number of shares of Republic Waste to be issued to the Stout shareholders is estimated to be approximately 3.5 million shares and will be finally determined by the net income of Stout for the year ended Dec. 31, 1991.
 Stout Environmental, with 1991 revenue of over $65 million, is one of the largest providers of comprehensive environmental services to customers in 20 states throughout the mid-Atlantic and Midwest regions. The company's full service hazardous waste management services include treatment, storage resources, recovery, transportation and disposal of both hazardous and non-hazardous waste materials. The company, through several subsidiaries, operates four permitted treatment, storage and disposal (TSD) facilities with substantial expansion potential. Two of the TSD facilities have a Part B permit and the other two operate under interim status.
 Stout's experienced management team will continue to manage the business and to expand the company's operations. A representative of Stout will be appointed to the board of directors of Republic Waste upon closing. The Stout transaction is subject to a final definitive merger agreement, further financial and environmental due diligence and regulatory approvals.
 Republic Waste is an integrated solid and hazardous waste management company providing disposal, recycling, collection, transportation and treatment services to the public and private sectors.
 -0- 12/30/91
 /CONTACT: Michael G. DeGroote, chairman, president and CEO of Republic Waste Industries, 713-956-1110/
 (RWIN) CO: Republic Waste Industries Inc.; Stout Environmental Inc. ST: New Jersey, Georgia IN: SU: TNM


CK -- NY011 -- 2803 12/30/91 10:04 EST
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Publication:PR Newswire
Date:Dec 30, 1991
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