Printer Friendly

USA WASTE ACQUIRES REMAINING INTEREST IN BEST PAK DISPOSAL

 DALLAS, March 4 /PRNewswire/ -- USA Waste Services, Inc. (NASDAQ: USAS), announced today that it had increased its investment in Best Pak Disposal, Inc., to $16.5 million by purchasing the outstanding minority interest in Best Pak, thereby giving the company a 100 percent stake in the Best Pak shares. USA Waste acquired its original 55 percent ownership position in the private concern approximately one year ago. With revenues approaching $17 million per year, Best Pak is a strong performer in the southeast Texas markets of Houston and Beaumont, Texas.
 Donald F. Moorehead Jr., USA's chairman and CEO, stated that he was very pleased that the transaction had been consummated this early in the current year, as this was an important company goal for 1993. "Having complete ownership is clearly a preference for us," noted Moorehead.
 USA Waste recently reported record revenues and earnings for 1992 of $52.2 million and $7.3 million, or $0.65 per share, respectively, strong improvements over 1991 results. Having 100 percent of Best Pak for all of 1992 would have increased earnings for the year on a pro forma basis by approximately $0.02 per share. "We look forward to further improvements in 1993 as we plan to reap the benefits of the strong operational systems installed at Best Pak during 1992," Moorehead further stated.
 USA Waste, based in Dallas, is a rapidly growing solid waste management company performing both waste collection and disposal services in multiple locations nationwide.
 -0- 3/4/93
 /CONTACT: Earl E. DeFrates of USA Waste Services, 214-233-4212/
 (USAS)


CO: USA Waste Services, Inc.; Best Pak Disposal, Inc. ST: Texas IN: ENV SU: TNM

GK -- NY070 -- 3045 03/04/93 13:42 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 4, 1993
Words:283
Previous Article:PUBLIC OFFERING OF SOUTHERN CALIFORNIA GAS FIRST MORTGAGE BONDS
Next Article:PITTWAY'S 1992 INCOME FROM CONTINUING OPERATIONS REBOUNDS SHARPLY ON 10 PERCENT SALES INCREASE
Topics:


Related Articles
USA WASTE SERVICES ANNOUNCES SERIES OF ACQUISITIONS
USA WASTE SERVICES ENTERS HOUSTON MARKET WITH BUSINESS ACQUISITION
ALLIED WASTE INDUSTRIES TO ACQUIRE SEVEN ILLINOIS WASTE COMPANIES
WESTERN WASTE INDUSTRIES ANNOUNCES THIRD QUARTER CHARGES
USA WASTE SERVICES FORMS NEW SUBSIDIARY
USA WASTE ACQUIRES INDIANA OPERATIONS
USA WASTE ANNOUNCES ACQUISITIONS AND 15-YEAR MANAGEMENT AGREEMENT REPRESENTING $60 MILLION IN ANNUALIZED REVENUES
USA WASTE RECEIVES DEVELOPMENT PERMIT FOR COUNTRYSIDE LANDFILL
USA WASTE ANNOUNCES ACQUISITIONS REPRESENTING $50 MILLION IN ANNUALIZED REVENUES
TransAmerican Waste Industries, Inc. Completes Acquisition Adding Approximately $15 Million in Annual Revenue

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters