Meridian Waste Solutions, Inc's Subsidiary Awarded Exclusive 5 Year Contract for the City of Webster Groves, MO
A New Direction as a Waste Industry Solutions Company
MILTON, GA / ACCESSWIRE / December 3, 2015 / Meridian Waste Solutions, Inc. (OTCQB: MRDN) (the "Company") is pleased to announce that the City Council of Webster Groves, Missouri (the "City Council") unanimously awarded the exclusive contract for solid waste hauling to the Company's subsidiary, Here To Serve - Missouri Waste Division, LLC (d/b/a Meridian Waste Services).
On November 17, 2015, the City Council of Webster Groves introduced legislation to secure a five-year contract, effective February 1, 2016, to provide for residential trash, recycling and yard waste collection. The current hauler for Webster Groves is Waste Management, which has served the city in this capacity for over nine years. In the final vote, taken on December 1, 2015, the City Council unanimously approved awarding this contract to Meridian Waste Services.
Meridian Waste Services will provide services to an estimated 7,500 residents of Webster Groves and this exclusive arrangement is expected to generate an estimated $1.6 million in annual revenue.
Meridian Waste Services was awarded the 5 year contract besting competitive proposals made by three of the largest solid waste providers in the country: Waste Management, Progressive Waste Solutions and Republic Services.
"I have committed to build the best solid waste company in the St. Louis marketplace and I am excited to have the opportunity to partner with the City Council and the residents of Webster Groves, Missouri. Chuck Barcom, Area Vice President, put a tremendous amount of time learning about the needs of the Webster Groves residents and this understanding will enable Meridian Waste Service to provide Webster Groves with the optimal level of service under our new arrangement. The support of the City Council represents a key positive step towards building this strategic vision," said Jeff Cosman, CEO Meridian Waste Solutions, Inc. "My father was a St. Louis Cardinal in the 1960's, and during his subsequent career in management became a leader in the solid waste industry with Browning Ferris Industries and Republic Services. I am fueled to not only build a great company in the solid waste industry in his honor, but I am committed to building something great in the St. Louis area."
ABOUT MERIDIAN WASTE SOLUTIONS, INC.
Meridian Waste Solutions, Inc. is a company focused on solutions in the waste industry. Currently, the Company operates in St. Louis, Missouri as Meridian Waste Services, which serves over 40,000 residential, commercial and temporary customers in the St. Louis, Missouri market. With a fleet of commercial, residential and temporary roll off trucks, Meridian Waste Services provides unparalleled customer service in the form of long-term and short-term contracts. The Company is striving to acquire companies that offer various solutions in the waste industry and in select markets around the country.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve certain risks and uncertainties. The actual results or outcomes of Meridian Waste Solutions, Inc. may differ materially from those anticipated. Although Meridian Waste Solutions, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any such assumptions could prove to be inaccurate. Therefore, Meridian Waste Solutions, Inc. can provide no assurance that any of the forward-looking statements contained in this press release will prove to be accurate.
In light of the significant uncertainties and risks inherent in the forward-looking statements included in this press release, such information should not be regarded as a representation by Meridian Waste Solutions, Inc. that its objectives or plans will be achieved. Included in these uncertainties and risks are, among other things, fluctuations in operating results, general economic conditions, uncertainty regarding the results of certain legal proceedings and competition. Forward-looking statements consist of statements other than a recitation of historical fact and can be identified by the use of forward-looking terminology such as "may," "intend," "expect," "will," "anticipate," "estimate" or "continue" or the negatives thereof or other variations thereon or comparable terminology. Because they are forward-looking, such statements should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Meridian Waste Solutions, Inc.'s most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled "Risk Factors." Meridian Waste Solutions, Inc. does not undertake an obligation to update publicly any of its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Released Dec 3, 2015