March 2006

Waste Services makes acquisitions

Burlington, ON— Waste Services, Inc. announced that it has signed definitive agreements to acquire Liberty Waste, LLC and Sun Country Materials, LLC to expand its operations in the Tampa, Florida market. Liberty Waste is a collection operation based in Tampa with two transfer stations located in Tampa and Clearwater. The transfer stations are both permitted to accept construction and demolition and Class III waste volumes. Sun Country Materials owns a construction and demolition landfill located in Hillsborough County, Florida that is currently seeking an expansion permit. The combined collection operations of Waste Services and Liberty Waste will be able to internalize construction and demolition waste volumes into the acquired landfill.

The purchase price for the two businesses is $38.5 million, consisting of $13 million in cash, $19 million in shares of Waste Services common stock and $6.5 million of previous cash deposits. The transactions are both subject to certain customary closing conditions, with the landfill acquisition also subject to the receipt of the expansion permit.

 


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