Wastequip Acquires Pioneer Cover-All

Date: July 10, 2006

Source: Wastequip, Inc.

Wastequip, Inc., today announced it has acquired Pioneer Cover-All, a leading manufacturer of tarping systems used in the solid waste and construction industries. Pioneer sells a variety of product systems, including the "Rack n Pinion" automated tarping system, the HR series, the Tuff Tarper and Hi Roller. Pioneer is located in North Oxford, Massachusetts. Terms of the acquisition were not disclosed.

"Adding a great brand with strong leadership and market presence in the waste industry supports our business growth goals of delivering superior products and services cost-effectively, while extending our product offerings to meet the needs of both national and local haulers," said Bob Rasmussen, president and chief executive officer of Wastequip. "We plan to use the experience and industry knowledge of Pioneer's existing management team and employees to grow our presence in the tarping systems market."

Wastequip will retain the well-known Pioneer brand name and invest in technology that builds on Pioneer's legacy of innovative solutions that address customer challenges.

Founded in 1963 by the late Harvey Goldstein, Pioneer is now led by Goldstein's daughter, Sandy Davis, the current president. "My father, who was the inspiration behind the tarping systems, would be very happy that we are joining the Wastequip family," Davis said. Davis will be assisting in the transition of the family business.

Upon closing, Lenny Brescia, Pioneer's executive vice president of sales and marketing, will be named president. "Becoming part of Wastequip, the only national provider of waste equipment in the industry, will allow Pioneer to extend its reach into national and international markets, providing quality tarping systems to customers who need fast, dependable delivery," Brescia said.

Wastequip, nationally known for personal service, manufactures a diverse line of waste handling, recycling and material handling equipment, and operates numerous manufacturing facilities throughout North America. For more information on Wastequip, visit www.wastequip.com or call 216-292-2554.

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