[greenyes] FYI Waste Management and Recycle America Alliance

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> 
> Recycling Today Online :: :: » WMI Creates Recycling
> Alliance
> 
>             Recycling Today » News » 
> 
>             WMI Creates Recycling Alliance
>            
>             
>                   
>                   1/13/2003  
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>            
>            
> 
>       Rumors have been bouncing around the
> marketplace over the past several months over big
> changes to Waste Management's recycling division.
> While various sources noted the possibility of
> selling its recycling division outright, the result
> was a move to spin off its recycling business into a
> consolidated subsidiary. At the same time, the newly
> formed company has combined its business with one of
> the largest privately owned recycling companies in
> the United States.
> 
>        
>       The newly formed organization, Recycle America
> Alliance, has been created to optimize the capacity
> and improve the profitability of the company?s
> recycling line of business by combining assets and
> operations with a number of other key domestic
> recycling processors and marketers. Recycle America
> Alliance will be a majority owned and consolidated
> subsidiary of Waste Management, Inc. The newly
> formed alliance will not be a spin off. Rather, the
> company will be a consolidated subsidiary of Waste
> Management.
> 
>       Waste Management also announced that the first
> partner in the alliance is The Peltz Group, based in
> Milwaukee, Wis. Peltz handles more than 2 million
> tons of recovered fiber a year.
> 
>       ?We see this alliance as a great opportunity
> for Waste Management and other premier recycling
> processors and marketers to join together to improve
> efficiencies at their facilities and strengthen
> their marketing efforts,? said A. Maurice Myers,
> chairman, president and CEO of Waste Management. ?We
> anticipate welcoming other important recycling
> processors into the alliance during the coming
> months, and we are very pleased to have The Peltz
> Group  - a     company with a long history of
> integrity and value ? as an initial partner.?
> 
>       ?By combining operations, including both
> facilities and personnel, we believe we will be able
> to increase capacity utilization, in part by
> rationalizing our facilities. The recycling industry
> is still very fragmented in the United States, and
> processing capacity far exceeds demand,? said Steve
> Ragiel, vice president of Recycling for Waste
> Management. ?This alliance reinforces Waste
> Management?s commitment to leadership and innovation
> in the recycling business, and it is expected to
> assist us in providing the best and most
> comprehensive recycling services to our customers.
> We believe that rationalizing costs and increasing
> capacity utilization directly leads to an increase
> in the sustainability of recycling in the U.S. and
> Canada.?
> 
>       Harry Pelz, president and partner and partner
> of Peltz Group, said, ?We are excited to be the
> first partner in the new Recycle America Alliance
> and take advantage of the opportunities that lay
> before us.  Waste Management has an outstanding team
> of people in place, and is a company with a proven
> track record of success.  These are two strong teams
> coming together, and we look forward to working with
> them on this venture.?
> 
>       Under the agreement, Waste Management will
> combine the majority of its recycling processing
> assets with The Peltz Group?s assets to form a new
> company that will provide recycling, materials
> brokerage services, container processing and
> trading, a service that allows customers to
> stabilize the price of their commodities. According
> to Sarah Voss-Simpson, WMI presently has 190 MRFs in
> the United States and Canada that will be a part of
> the new alliance.
> 
>       While at the present time both companies will
> maintain the names, over the long term the plan will
> be for the newly formed companies to bring their
> name out, while phasing out the previous name.
> 
>       Under the present setup, Waste Management will
> own 90 percent of the newly formed alliance; The
> Peltz Group will own the remaining interest. The
> company will operate as a consolidated subsidiary of
> Waste Management and will be directed by a
> management team made up of former officers and
> managers of both companies.
> 
>       Heading the operation will be Steve Ragiel of
> Waste Management. Other members of the management
> staff include the following: from Waste Management,
> Tom Riek, David McAdam, Victor Gaylor, and Bruce
> Jensen; from The Peltz Group, members of the
> management team include: Harry Pelz, Brian Fielkow,
> Arnie Peltz, Jonathan Vosburg, and Shawn Lavin.
> 
>       As the alliance seeks out other partners, the
> percentage ownership will change, although WMI will
> continue to control a majority of the ownership in
> the company.
> 
>       Recycle America Alliance will have
> approximately 3,300 employees; will handle more than
> 8 million tons of commodities per year; will operate
> 80 recycling plants and provide marketing
> responsibility for more than 190 locations in the
> U.S. and Canada. In addition, RAA will operate seven
> container processing facilities, one plastics
> recycling facility, and four electronics recycling
> facilities. 
> 
>       Waste Management?s recycling business is the
> largest collector of recyclable materials from
> businesses and households in North America and
> operates material recovery facilities in the U.S.
> and Canada that, prior to the formation of the
> Alliance, processed more than five million tons of
> recyclable commodities each year. Of the five
> million tons of recyclables handled, about four
> million tons are fiber-related.
> 
>       The Peltz Group's Brian Fielkow said that the
> combination of Waste Management and The Peltz Group
> will give the alliance a well-rounded package to
> deliver to customers. Additionally, the alliance is
> diversified with plenty of non-fiber materkals.
> 
>       The Peltz Group currently operates the A-1
> Recycling Center in Milwaukee, Wis.; The Peltz Group
> plant in Menomonee Falls, Wis.; the Madison
> Recycling Center in Madison, Wis.; the Paper Valley
> Recycling Center in Menasha, Wis.; the Janesville
> Recycling Center in Janesville, Wis.; The Peltz
> Group plant in Superior, Wis.; and The Peltz Group
> plant in Cleveland, Ohio.  
> 
>       Additionally, the company operates brokerage
> offices in Milwaukee, Atlanta, Chicago, Los Angeles,
> Minneapolis and Toronto, Canada.
> 
>       Monday, January 13, 2003
> 
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