Waste Management Forms Recycling Organization

Lynn Schenkman

Houston – Waste Management Inc. (WMI) has formed the Recycle America Alliance (RAA), a recycling organization intended to boost revenue $200 million and to add $18 million to earnings before interest, taxes, depreciation and amortization (EBITDA) in 2003. RAA will combine assets and operations with other recycling processors and marketers. WMI’s first partner is the Peltz Group, Milwaukee, the nation’s largest privately held recycler, which handles more than 2 million tons of recyclable material per year. RAA will be a majority owned and consolidated subsidiary of WMI. For details visit

www.recycleamericaalliance.com

.