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Waste Services closes buy of 2 Miami businesses

Waste Services closes purchases of 2 businesses in Miami-Dade area

  • On 4:18 pm EDT, Monday October 5, 2009

NEW YORK (AP) -- Canadian garbage collection and recycling company Waste Services Inc. on Monday said it closed its purchases of the Miami-Dade operations and related assets of Republic Services Inc.

That transaction followed the closing on Sept. 1 of Waste Services' purchase of the Miami-Dade operations of DisposAll Inc. The combined purchase price of the two deals is $48 million.

Waste Services, based in Burlington, Ontario, said it will sell certain assets and facilities that are duplicative.

The company expects the acquisitions to add $28 million in annual revenue and 5 cents to 10 cents per share in profit through the addition of 25 net new routes. That will put the company near the top of its forecasted profit of 38 cents to 40 cents per share for the year, it said.

Lightly traded Waste Services shares closed up 26 cents, or 5.6 percent, at $4.88.

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