Date: October 3, 2002
Source: News Room
Hi-Rise Recycling Companies has announced its purchase of the Solid Waste Equipment Division from Hi-Rise Recycling Systems, Inc. Hi-Rise Recycling Systems filed for Chapter 11 status in February 2002 in order to implement a pre-negotiated restructuring plan. As part of the restructuring plan, the Solid Waste Equipment Division was sold for $35 million in cash plus the assumption of specified company assets, liabilities and contracts to Donco Holding Company, a private investment firm.
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