New Trust for IPO...........
The Fund is a limited purpose trust established under the laws of Ontario to acquire and hold the securities of its subsidiaries, including the common shares and notes of the company ("BFI Amalco") that will, upon the closing of the Offering, be the parent company of BFI Canada Inc., BFI Usine de Triage Lachenaie Ltd. and Entreprise Sanitaire F.A. Ltée. ("FA").The Fund intends to make monthly distributions of its available cash to the maximum extent possible. The first distribution to Unitholders is expected to be made on or about June 15, 2002 for the period from the closing of the Offering to May 31, 2002 and is estimated to be $? per Unit.
BFI is a full-service waste management company providing non-hazardous solid waste collection and landfill disposal services for commercial, industrial and residential customers in the provinces of British Columbia, Alberta, Manitoba, Ontario and Quebec. Based on revenues, BFI is one of the three largest non-hazardous solid waste management companies in Canada, with consolidated revenues of approximately $128 million in fiscal 2001. The Company owns and operates three landfills, carries on collection operations in 18 markets, and operates three transfer collection stations, seven material recovery collection facilities and one landfill gas to energy facility. BFI's business does not include any management, collection or disposal of hazardous or liquid waste. p>The Company acquired all of the outstanding shares of FA on February 28, 2002. Based on revenues generated during fiscal 2001, FA is one of the three largest residential collection companies in the City of Montreal and the surrounding areas. The FA acquisition provides the Company with a means of entering the Montreal residential collection market and a means of securing FA's current and future residential waste volume for the Company's Lachenaie landfill. This acquisition was attractive for the Company because it increases the volume of internally collected waste disposed of at the Company's Lachenaie landfill, thereby increasing the Company's EBITDA margins for the landfill.
Industry Category : Trust Units
Company Financials :
Fiscal Year-End : December 31
Financials : Forecasted Consolidated Statement of Operations:
Revenue for the 8 months ended December 31, 2002 - $99,800,000 |
