Waste Pro USA Inc. is investing $3 million to install video cameras in all its residential and commercial waste and recycling vehicles.
The Longwood, Fla.-based Waste Pro will provide each truck with an onboard camera system, providing vantage points from each vehicle side, in addition to interior cab views, according to a news release. The company will implement the program in phases.
Currently about 15 percent of Waste Pro’s fleet is equipped with a camera system. Waste Pro said the conversion of its entire fleet should be complete by the end of 2016.
The company characterized the investment as minor compared with the benefits.
“The intent of adding cameras to the trucks is to promote safe behaviors, as well as protect the company from potential accident-related lawsuits,” said Cort Sabina, Waste Pro vice president and chief financial officer.
Waste Pro said in the waste industry similar camera systems have been used to assist law enforcement personnel in determining the cause of accidents and providing evidence as to fault.
Waste Pro has planned for increased growth with equipment and other means. Last October it completed a $579 million recapitalization of the company. The new credit facility is all debt, which includes an asset base loan revolving line of credit led by Wells Fargo Capital Finance, a division of Wells Fargo Bank, N.A. “We executed a business transaction that creates the platform to launch our next decade of growth,” said John Jennings, Waste Pro chairman and CEO, at the time.
The 11-year-old firm said its private ownership is a competitive advantage and gives the company the ability makes to expand operations and sustain consistent financial growth in a strategic manner.
The company opened a material recovery facility (MRF) this January in Ocala, Fla., and has been aggressively converting its fleet to vehicles that run on compressed natural gas (CNG) fuel.
Waste Pro had 2013 revenues of $510 million in its eight-state Southeastern United States regional service area. The company serves more than 2 million residential and commercial customers from more than 75 operating locations.