Thursday, December 23, 2010

IESI-BFC Announces Purchase of Waste Assets from Fred Weber Inc., Crown Excel Disposal LLC and Weber Gas Energy, LLC in St. Louis, Missouri

IESI-BFC Ltd. ("IESI-BFC") (NYSE:BIN - News)(TSX:BIN - News) announced today that, through two of its U.S. subsidiaries, it has acquired the waste collection, transfer and landfill assets of Fred Weber Inc., Crown Excel Disposal LLC and Weber Gas Energy, LLC (together, "Fred Weber") in St. Louis, Missouri for cash consideration of $159 million.

The acquired assets include:

-- the largest municipal solid waste landfill in the State of Missouri as measured by volume, strategically located on the west side of the St. Louis metropolitan area with an expected life of approximately 80 years and no daily volume limit;

-- a collection business including both commercial and roll-off collection routes which will be integrated with IESI-BFC's existing collection operation in the St. Louis market;

-- a municipal solid waste transfer station in Valley Park, Missouri; and

-- a third party agreement for the sale of landfill methane gas commencing in the second half of 2012.

"The Fred Weber landfill is one of the largest remaining privately owned landfills in the U.S., and the largest landfill in the state of Missouri in terms of volume," said Keith Carrigan, Vice Chairman and Chief Executive Officer of IESI-BFC. "Securing this landfill with its strategic proximity to the St. Louis market, together with the acquired waste collection and transfer assets, substantially improves our operational presence in the St. Louis marketplace. The purchase of these vertically integrated urban market assets aligns perfectly with our stringent acquisition strategy and business model," Carrigan continued.

"As a Company, we are elated to acquire these outstanding assets," said Mickey Flood, Vice Chairman of IESI-BFC. "In combining them with our existing business, we have become a major operator in the St. Louis market and now have both the assets and the critical mass to execute our business strategies. I congratulate our employees on their hard work on this transaction, and express my sincere appreciation to the management team at Fred Weber Inc. for the extraordinary business they have built and for affording us the opportunity to purchase these assets."


  1. Anonymous7:58 AM

    WOW!!!!!!!!! They're playing Mnopoly with St. Louis County buildings ( our homes).

  2. Anonymous11:32 AM

    Allied Republic is also purchasing QRS Recycling, the largest single stream recycling resource in St. Louis County.