CEO Jim Can of Budget Waste Inc. (PINKSHEETS: BDGW) announces a recent article in the January 11, 2007, edition of the Knobias Smallcap ClipReport newsletter on page 1.
The complete text of the article follows:
Budget Waste Inc. (PINKSHEETS: BDGW) has finalized the acquisition of all assets and client lists of A&R Waste. This expands the Company’s position in the south/central Alberta rural market. A&R Waste has been servicing clients in the area for 20 years and has a strong position in industrial, front load, curbside, and rural residential operations.
VP of Strategic Development, Mike Kolankowski, told Knobias on Wednesday, “We are not able to disclose the financial terms of the agreement at this time, but the acquisition of A&R Waste provides us with an opportunity to capitalize on the growth in the region just north of Calgary. It also allows us to streamline our rural operations.”
Budget Waste provides complete waste and recycling services to oilfield, commercial, industrial, construction, homebuilding and residential clients.
Mr. Kolankowski explained, “Our services are perfect for construction and remodeling projects, estate clean-ups, demolition jobs, special events or any other short-term endeavor. Our services include bins and roll-off containers in a variety of sizes to fit temporary waste needs.”
Mr. Kolankowski noted, “We have positioned ourselves as one of the largest roll-off waste haulers in the Calgary market.”
He commented, “The advantage that we provide over our competitors is that we are the only company that offers a one-stop shop waste solution for our customers. We provide everything including waste hauling, recycling, site clean-up, portable toilets, septic services and fences.”
Over the past 6 month, Budget Waste has completed the acquisition of ten companies and has recently signed Letters of Intent with four more.
The Company recently announced a letter of intent with 4M Water Hauling Ltd. an oilfield services company. 4M has provided water hauling services for Alberta’s oilfield industry for over 7 years. 4M also offers road spraying services, parking lot washing, fire fighting equipment, and potable and fresh water services to the oilfield, forestry and mining sectors.
“This move will strengthen BWI’s presence in Alberta’s booming oilfield sector. One of our current customers is a pretty big player in this industry, and this sector could become a significant part of our focus due to its dynamic growth in this region.
“We will continue to aggressively pursue an acquisition strategy to become the largest provider of waste solutions in North America.”
In 2005, the Company reported annual revenues of $1.2 million and assets of approximately $400,000. Given past performance, current market activity and year-to-date revenues of over $7 million, the Company estimates that it will generate revenues of over $10 million, with current assets with a market value of over $8 million.
Mr. Kolankowski concluded, “We have accelerated our growth strategy through acquisitions and expansion of existing services to take advantage of Alberta’s hot economy. Based on the current market, our activity level and recent month end results, we are on track to meet or surpass an 800% growth forecast.”
The Company also recently announced a forward split in the form of a dividend of one share for each two shares outstanding. (End of Article)