Historical Archive
This press release was originally distributed via the eWire press wire service (2002–2016). It is preserved here as a historical record.
EarthCare Completes Acquisition of Solid Waste Company
ARCHIVED 2002–2016: Originally distributed via the eWire press wire service. Preserved as historical record.
EarthCare Completes Acquisition of Solid Waste Company
SUBSCRIBE/UNSUBSCRIBE |
Conservation & Wildlife
Corporate Responsibility
Science & Technology
Syndication Partners
**************************************************************************
E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE
**************************************************************************
TO BUSINESS AND ENVIRONMENTAL EDITORS:
EarthCare Completes Acquisition of Solid Waste Company
TEXAS, DALLAS, Jan. 3 -/E-Wire/-- EarthCare Company (Nasdaq: ECCO) announced today that it has completed the acquisition of EarthCare Florida (formerly Liberty Waste, Inc.). EarthCare Florida is located in Tampa, and owns a construction and demolition landfill in Ruskin, Florida, near Tampa, and has transfer stations in Clearwater and Tampa. Currently, EarthCare Florida has annual revenues of approximately $19 million and services commercial, industrial and residential customers in the Tampa area. There are also plans to expand its operations into other cities in Florida. EarthCare Company issued approximately 490,100 shares of its common stock to acquire the remaining 56% interest in EarthCare Florida it did not previously own.
Don Moorehead, Chairman and CEO of EarthCare Company, said, "This transaction is part of our recently announced new strategic focus on the solid waste industry. I am pleased EarthCare is operating in the growing Florida market. We have plans to expand our solid waste operations into other markets in the Southeast and other parts of the United States in early 2001. I believe shifting our focus to the solid waste business is the best way to improve shareholder value."
Mr. Moorehead stated that EarthCare will focus on aggressively growing the commercial part of its solid waste business in Florida and positioning itself to bid on the many municipal, franchise and other long-term contracts that are going to be competitively awarded over the next few years. As part of developing a unique position in the solid waste industry, EarthCare will also begin to offer liquid waste services through its EarthAmerica subsidiary to customers in selected Florida markets.
EarthCare is a comprehensive service organization with business units serving the waste and information needs of a variety of residential, commercial and industrial customers.
Forward-looking statements in this release involve a number of risks and uncertainties that may cause actual results to differ materially from expected results. These risks and uncertainties are described in detail in the company's filings with the Securities and Exchange Commission.
Lew Nevins, Vice President, Investor Relations of EarthCare Company, [REDACTED-PHONE]
http://www.earthcareus.com
**************************************************************************
To Transmit Your News Over E-Wire, visit http://www.ewire.com or
call 1-[REDACTED-PHONE]. E-Wire Is Broadcast To Millions Of Readers Worldwide
**************************************************************************
1993 - 2003. All Rights Reserved.