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TWST: Please begin with a brief historical sketch of the company and a picture
of the things you are doing at the present time.
Mr. Johnson: The company was founded in 1997. It was created by a spinoff of
selected markets required by the Canadian Competition Bureau, which functions in
a similar manner to the U.S. Justice Department to limit market dominance by one
large participant. When several large waste companies merged in Canada, they had
to divest their interest in certain markets. Waste Management was involved in
that merger and they spun off several markets into a company called Capital
Environmental. That company subsequently went public, had limited initial
success but later developed a liquidity problem. This allowed the group of
investors to acquire control of the company, and that happened in 2001. At that
point in time, there were no operations in the US. The Board then proceeded to
acquire various landfills in the US and built our hauling operations around
those landfills. We now, through acquisition and some divestures, have totally
focused our operation in the US in the State of Florida. TWST: Have you retained activities in Canada?
Mr. Johnson: Yes, about 50% of our revenue and profits is generated in Canada
and 50% comes from Florida.
Tickers included in this excerpt: WSII
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not make stock recommendations.
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