Allied Waste Industries completed the sale of certain solid waste collection and disposal assets in Canada to a group of financial buyers led by NB Capital Partners, Inc. The Canadian transaction completes the sale of all Canadian assets purchased by Allied in its acquisition of BFI in July 1999. The terms of the transaction were not disclosed.
"This transaction substantially completes the divestiture side of the asset swap program we initiated last fall as part of Allied's divestiture and debt reduction goals," said Tom Van Weelden, Chairman and CEO of Allied Waste. "With this transaction behind us, we anticipate our future operating results will better reflect the strong earnings potential of our company."
As of March 31, Allied Waste operated 349 collection companies, 154 transfer stations, 155 active landfills and 91 recycling facilities in 42 states.
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