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Waste Connections Announces Agreement to Acquire Harold LeMay Enterprises

2008-08-05 15:05:00

Waste Connections Announces Agreement to Acquire Harold LeMay Enterprises

    FOLSOM, Calif., Aug. 5 /EMWNews/ -- Waste Connections,

Inc. (NYSE: WCN) today announced that it has entered into an agreement to

acquire Harold LeMay Enterprises, Incorporated ("LeMay"). Founded in 1942,

LeMay is the largest privately-owned solid waste services company in the

Pacific Northwest with total annual revenue of approximately $100 million.

LeMay provides solid waste collection, recycling and transfer services, a

majority of which under exclusive G Certificates for the counties of Gray's

Harbor, Lewis, Pierce and Thurston. The transaction remains subject to

customary closing conditions, including regulatory approval and receipt of

local municipal consents. Closing is expected to occur in the fourth

quarter of 2008.



    Waste Connections also announced that it has entered into an agreement

with entities affiliated with LeMay to acquire the remaining interests in

Pierce County Recycling, Composting and Disposal, LLC ("PCRCD"), a provider

of solid waste disposal, transfer, recycling and composting services, which

is currently a majority-owned subsidiary of Waste Connections. Upon

completion of this acquisition, PCRCD will become a wholly-owned subsidiary

of Waste Connections.



    "This represents the single largest acquisition for Waste Connections

and solidifies our leading position in Washington. We are extremely excited

about the prospects for our combined operations," said Ronald J.

Mittelstaedt, Chairman and Chief Executive Officer. "LeMay is one of the

oldest and most respected solid waste services companies in the country. We

recognize the trust the LeMay family has placed in us to carry forward its

commitments to both their employees and the communities they serve."



    Waste Connections, Inc. is an integrated solid waste services company

that provides solid waste collection, transfer, disposal and recycling

services in mostly secondary markets in the Western and Southern U.S. The

Company serves more than 1.5 million residential, commercial and industrial

customers from a network of operations in 23 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 Folsom, California.



    For more information, visit the Waste Connections web site at

http://www.wasteconnections.com. Copies of financial literature, including

this release, are available on the Waste Connections web site or through

contacting us directly at (916) 608-8200.



    Certain statements contained in this press release are forward-looking

in nature. These statements can be identified by the use of forward-looking

terminology such as "believes," "expects," "may," "will," "should," or

"anticipates," or the negative thereof or comparable terminology, or by

discussions of strategy. 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. Factors that could cause actual results to differ from those

projected include, but are not limited to, the following: (1) Waste

Connections may be unable to compete effectively with larger and better

capitalized companies and governmental service providers; (2) Waste

Connections' financial results are based upon estimates and assumptions

that may differ from actual results; (3) efforts by labor unions could

divert management attention and adversely affect operating results; (4)

Waste Connections' results are vulnerable to economic conditions and

seasonal factors affecting the regions in which it operates; (5) Waste

Connections may lose contracts through competitive bidding, early

termination or governmental action; (6) competition for acquisition

candidates, consolidation within the waste industry and economic and market

conditions may limit Waste Connections' ability to grow through

acquisitions; (7) Waste Connections' growth and future financial

performance depend significantly on its ability to integrate acquired

businesses into its organization and operations; (8) Waste Connections'

acquisitions may not be successful, resulting in changes in strategy,

operating losses or a loss on sale of the business acquired; (9) Waste

Connections' decentralized decision-making structure could allow local

managers to make decisions that adversely affect Waste Connections'

operating results; (10) each business that Waste Connections acquires or

has acquired may have liabilities that Waste Connections fails or is unable

to discover, including environmental liabilities; and (11) the adoption of

new accounting standards or interpretations could adversely affect Waste

Connections' financial results. 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.





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Blake Masterson

Freelance Writer, Journalist and Father of 5

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