Allied Waste Industries, Inc. Agrees To Sell Certain Assets To Veolia ES Solid Waste, Inc.

Phoenix, AZ - Allied Waste Industries, Inc., a leading waste services company, recently announced that it has reached a definitive agreement with Veolia ES Solid Waste, Inc. to sell to Veolia certain solid waste landfill and collection assets in the east-central and southeastern United States for $86M.

The assets include collection and disposal operations near Elkhart, Indiana, in southern Illinois, eastern Kentucky and south-central Georgia. These operations, which total 6 hauling companies, 2 transfer stations and 5 landfills, are expected to generate approximately $54M in revenue in 2007.

Upon completion of the transaction, which is anticipated to occur during the third quarter, Allied Waste expects to record a non-cash charge primarily related to goodwill. The transaction is subject to receipt of certain government approvals and other customary closing conditions.

"Following a comprehensive review of Allied Waste's operations, we have been working to align our investments to better support Allied's long-term strategic objectives," said Donald Slager, President and Chief Operating Officer. "We see opportunities to more effectively invest this capital in support of our goals of driving profitable growth and increased returns on our investments and to our shareholders."

SOURCE Allied Waste Industries, Inc.