Date: September 25, 2008
Source: Waste Management and WM Recycle America, L.L.C.
Waste Management Recycle America Acquires Gulf Coast Recycling
Waste Management Recycle America announced today that it has purchased Gulf Coast Recycling.
"The purchase of Gulf Coast Recycling's two Houston facilities along with its Beaumont, Texas, recycling plant, makes us one of the largest recycling companies in southeast Texas," said Patrick DeRueda, president of WM Recycle America. "This acquisition also provides our customers with a broader recycling service offering."
Gulf Coast Recycling was established in 1974 as Golden Triangle Paper Stock Co. Inc., which provided recycling services in the Beaumont area. The name Gulf Coast Recycling was adopted in 1989 to better reflect its growing business activities. In 2002, Gulf Coast Recycling opened its nine-acre facility on Clay Road in west Houston.
The company continued to expand its customer base and realized the need for another facility on the east side of Houston. In 2006 the Delta facility was acquired in downtown Houston.
Gulf Coast Recycling is a full-service recycling provider. It provides front load and roll-off recycling collection services, bale pick-up and trailer drop-off services, and commodity brokerage services.
There will be no interruption in service for any WM Recycle America or Gulf Coast Recycling's customers.
"We want this to be a seamless transition for all our customers," said Alan Stein, president of Gulf Coast Recycling. "The exceptional customer service that both companies have always provided will continue without interruption."
Stein, who has nearly 40 years in the recycling and waste industry including senior leadership positions with BFI, will remain with WM Recycle America in a management position.
"This acquisition fits into Waste Management's strategy to expand single stream recycling, enhanced commercial recycling, as well as our continued build out of our national eCycling infrastructure," DeRueda said. "It will also contribute to our plans to nearly triple the total volume of materials we recycle from the current 8 million tons to more than 20 million tons by 2020."
About Waste Management and WM Recycle America, L.L.C.
Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management services in North America. Our subsidiaries provide collection, transfer, recycling and resource recovery, and disposal services. We are also a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in the United States. Our customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more about Waste Management visit www.wm.com or www.thinkgreen.com.
WM Recycle America is a subsidiary of Waste Management and is the largest residential recycler in North America. WM Recycle America's business lines include processing many types of consumer-generated recyclables and finding the best markets for the recyclable commodities produced. In its capacity of providing processing and marketing services, WM Recycle America offers a wide variety of recycling options for municipal, manufacturing, commercial and residential customers.
For Further Information:
Waste Management, Inc.
Media: Richard Abramowitz
Web site: www.wm.com.