Date: December 30, 2011
Source: Waste Connections, Inc.
Waste Connections, Inc. (now The Woodlands, TX), announced its new corporate address in The Woodlands, Texas, as the company has already begun moving about 100 of its employees from Folsom, CA. The move, which is expected to be complete by September, is expected to cost over $15 million in relocation expense which would be in addition to a $4 to $6 million loss from the abandonment of its old corporate lease. The company announced its intention to move last August, citing the need for a more centralized and easier access point to service its expanding geographic footprint. CEO Ron Mittelstaedt said that "The Woodlands offers our employees an attractive, lower cost, and more centrally located community well serviced by two major airports." At the time, he was sharply critical of California for having the "highest state tax rates in the nation," characterizing the state's legislature as "dysfunctional" and saying that "it's extremely difficult to do business here." The lower cost of living in Texas is expected to make it easier for the company to attract employ talent.
PRESS RELEASE
December 30, 2011
Waste Connections Announces New Corporate Headquarters Address
Waste Connections, Inc. (NYSE: WCN) today announced the following new address for its corporate headquarters which, effective immediately, has been relocated from Folsom, California, to The Woodlands, Texas:
Waste Connections, Inc.
Waterway Plaza Two
10001 Woodloch Forest Drive, Suite 400
The Woodlands, TX 77380
"This new location is effective for me, several other members of our senior management team and selected support services functions," said Ronald J. Mittelstaedt, Chairman and Chief Executive Officer. "We expect the remainder of our headquarters' relocation to be completed by September 2012."
Waste Connections, Inc. is an integrated solid waste services company that provides solid waste collection, transfer, disposal and recycling services in mostly exclusive and secondary markets. The Company serves more than two million residential, commercial and industrial customers from a network of operations in 29 states. The Company also provides intermodal services for the movement of containers in the Pacific Northwest. Waste Connections, Inc. was founded in September 1997 and is headquartered in The Woodlands, Texas.
For more information, visit the Waste Connections web site at www.wasteconnections.com.
Certain statements contained in this press release are forward?looking in nature, including statements related to the timing of the completion of the corporate office relocation. Waste Connections' business and operations are subject to a variety of risks and uncertainties and, consequently, actual results may differ materially from those projected by any forward?looking statements. These risks and uncertainties, as well as others, are discussed in greater detail in Waste Connections' filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10?K. There may be additional risks of which Waste Connections is not presently aware or that it currently believes are immaterial which could have an adverse impact on its business. Waste Connections makes no commitment to revise or update any forward?looking statements in order to reflect events or circumstances that may change.
For more information, contact:
Waste Connections, Inc.
Worthing Jackman, (916) 608-8266
worthingj@wasteconnections.com.
Sign up to receive our free Weekly News Bulletin