DOW JONES NEWSWIRES
Waste Services Inc. (WSII) on Monday completed two acquisitions
in Florida for $48 million, moves that the solid-waste company said
would boost earnings next year.
The acquisitions are expected to add $28 million in annual
revenue. In 2010, the transactions are expected to boost earnings
by 5 cents to 7 cents a share. Some of the assets, including
operational facilities, will become redundant and be sold to reduce
the deal's investment.
Over the near term, the deal is expected to put earnings at the
top end of the company's 2009 guidance of 38 cents to 40 cents a
share.
Waste Services closed its acquisition of Republic Services
Inc.'s (RSG) operations and related assets in Miami-Dade County,
Fla., and in a separate transaction, the Miami-Dade operations of
DisposALL Inc. The acquired customers are expected to be integrated
into the company's existing route structure within three
months.
Shares were recently unchanged in after-hours trading, after
rising 5.6% in the regular session.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com