Waste Management has announced that it has acquired Deep Clean Waste Services Inc., familiar to Canadians as the collection and service company for the MOLOK container system. Waste Management officials said the decision to make a significant investment in the collection of waste and recyclables from MOLOK Deep Collection containers grows out of the growing popularity of the containers system.
The transaction was completed June 1, 2009. The acquisition of the Mount Forest-based Deep Clean fits into Waste Management’s strategy and primary financial goals of earnings growth, margin expansion, strong cash flow generation and increasing the company’s long-term return on invested capital. Deep Clean’s principal services include emptying of the innovative Finnish company MOLOK’s waste and recycling containers, which account for 100 per cent of its revenues.
“Our investment represents an important strategic opportunity to compete in a competitive solid waste market,” said Brad Muter, market area vice president for Eastern Canada.
About Waste Management
Waste Management, Inc., based in Houston, Texas, is the leading provider of comprehensive waste management services in North America. Through its subsidiaries, the company provides collection, transfer, recycling and resource recovery, and disposal services. It is also a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in the United States. The company’s customers include residential, commercial, industrial, and municipal customers throughout North America. Visit www.wm.com