IESI-BFC Acquires Landfill, Waste Assets in St. Louis

IESI-BFC Ltd. announced that, through two of its U.S. subsidiaries, it acquired the waste collection, transfer and landfill assets of Fred Weber Inc., Crown Excel Disposal LLC and Weber Gas Energy, LLC (together, "Fred Weber") in St. Louis for $159 million in cash. Among the assets purchased by the Toronto-based IESI-BFC was the Fred Weber landfill, one of the largest remaining privately owned landfills in the United States, and the largest landfill in the state of Missouri by volume. The landfill is located on the west side of the St. Louis metropolitan area and has an expected life of approximately 80 years and no daily volume limit.

"Securing this landfill with its strategic proximity to the St. Louis market, together with the acquired waste collection and transfer assets, substantially improves our operational presence in the St. Louis marketplace,” said Keith Carrigan, vice chairman and CEO of IESI-BFC. “The purchase of these vertically integrated urban market assets aligns perfectly with our stringent acquisition strategy and business model.”

The transaction also included commercial and roll-off collection routes which will be integrated with IESI-BFC's existing collection operation in the St. Louis market; a municipal solid waste transfer station in Valley Park, Mo.; and a third party agreement for the sale of landfill methane gas commencing in the second half of 2012.