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Allied Waste Industries, Inc. - Waste Management
- Category Directory
(480)
627-2700
15880
North Greenway-Hayden Loop, Suite 100
Scottsdale, AZ 85260
www.alliedwaste.com
Sales
$5.2
billion
Business Description
We
are the second largest, non-hazardous solid waste management company in the
United States. The non-hazardous solid waste industry in the United States
generates approximately $42 billion of annual revenue from publicly-traded
companies, municipalities and privately-held companies. Publicly-traded
companies generate approximately 49% of the revenues, while municipalities
and private companies generate the remaining revenues. Presently, the three
largest publicly-traded companies in the waste management industry in the
United States generate over 90% of the public company revenues.
We provide collection, transfer, recycling and disposal services for
approximately 10 million residential, commercial and industrial customers.
We serve our customers through a network of 313 collection companies, 165
transfer stations, 166 active landfills and 57 recycling facilities in 110
major markets within 37 states. We operate only in the United States and
Puerto Rico. We operate as a vertically integrated company which entails
picking up waste from businesses and residences and disposing of that waste
in our own landfills to the extent that it is economically beneficial
(referred to as internalization). This allows us greater stability in and
control over the waste flow into our landfills and, therefore, greater
control over the cash flow stability in our business.
We utilize a decentralized operating model, with centralized control
functions and management oversight. Centralized control activities include
operating standards, best practices, risk management, and regulatory
compliance. Because the waste collection and disposal business is a very
local business, operations and opportunities differ in each of our markets.
By utilizing a decentralized operating model, the day-to-day operating
decisions are made locally, close to the customer. Augmenting this we
utilize operating standards and the sharing of best practices across the
company. We believe that this model allows us to maximize the growth and
development opportunities in each market in which we operate and has largely
contributed to our ability to operate the business efficiently, while
maintaining effective controls over our operations and administrative
matters, including financial reporting and risk management.
We were incorporated in Delaware in 1989. We have grown the company from a
revenue base of $35 million in 1992 to over $5 billion in 2003 through a
series of acquisitions highlighted by the $1.5 billion acquisition of the
solid waste assets of Laidlaw in 1996 and the $9.6 billion acquisition of
Browning-Ferris Industries, Inc. (BFI) in 1999. We have, and continue to
acquire smaller companies within the waste industry that either provide
additional infrastructure, such as landfills and transfer stations in
existing markets, or tuck into our existing collection companies and enhance
our internalization and profitability in a market. Since 2001, we have
funded the acquisition of companies through the proceeds from divestitures
of our own assets that were not operating in a manner consistent with our
business model.
Our current business objectives are to focus on internal growth and generate
cash flow to repay debt. We reported revenues of approximately $5.2 billion
for the years ended December 31, 2003 and 2002. During the years ended
December 31, 2003 and 2002, we generated operating cash flows of
approximately $783.9 million and $976.6 million, and reinvested
approximately $491.8 million and $536.3 million of capital into the
business, respectively, primarily for trucks, containers and landfill
development. During 2003, we reduced our debt balance by $648 million to
$8.2 billion and increased our cash balance by $265 million through
operating cash flows of $783.9 million, the issuance of equity generating
approximately $428 million and the divestiture of operations (net of
acquisitions) generating approximately $250 million in net proceeds.
General information about us can be found at www.alliedwaste.com. Our
annual report on Form 10-K, quarterly reports on Form 10-Q and current
reports on Form 8-K, as well as any amendments to those reports, are
available free of charge through our website as soon as reasonably
practicable after we file them with, or furnish them to, the Securities and
Exchange Commission (SEC).
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