Waste Connections
TypePublic
TSX: WCN
S&P/TSX 60 component
ISINCA94106B1013
IndustryWaste management
Founded1997 in Folsom, California
HeadquartersThe Woodlands, Texas
Key people
Ronald J. Mittelstaedt, President and CEO
RevenueIncrease US$4.2 billion [1] (2021)
Number of employees
19,998 (2021)
Subsidiaries
Websitewasteconnections.com

Waste Connections is a North American integrated waste services company that provides waste collection, transfer, disposal and recycling services, primarily of solid waste. It has operations in both the United States and Canada. Its headquarters is located in The Woodlands, Texas. It is the third largest waste management company in North America. Near the end of 2018, the company removed "Inc." from its corporate name. The company is now known simply as "Waste Connections".[2]

History

The company was founded in 1997, by a group of professionals in Washington and Idaho with industry related experience. Waste Connections, Inc. expanded very quickly. Within about a year of its founding the company decided to go public, launching its IPO in May 1998. The company then slowly expanded into California and the western United States. As of 2011, It had operations in 32 of the 50 U.S states. In December 2011, the company announced that it was moving its headquarters from Folsom, CA to The Woodlands, Texas, a suburb of Houston. Chief Executive Officer, Ron Mittelstaedt, cited California's high taxes and dysfunctional legislature as key reasons for the move.[3]

In September 2012, it acquired R360 Environmental Solutions, a Texas waste company specializing in the oil industry.[4] In January 2016, Waste Connections bought Progressive Waste Services of Canada for $2.67 billion.[2] Under the deal, Waste Connections shareholders received 70% of the new company, which moved its tax headquarters to Canada.[2] It later re-branded its Canadian division Waste Connections of Canada.

Operations

Waste Connections's primary business is to provide solid waste collection and disposal services. It most often does this through contracts with municipalities to collect the waste in that municipality, for an agreed-upon rate.[5] It also provides services directly to residential, commercial, or industrial customers. In addition, Waste Connections runs landfills for waste disposal (82 solid waste landfills as of September 2019).[6][7]

In Q3 2017, 67% of revenue was from solid waste collection, 21% from solid waste disposal and transfer, 4% from recycling, 5% from its oil industry waste operations, and 3% from other sources.[6] 16% of revenue was from Canada, with the rest from the United States.[6]

Controversy

In September 2019, the investigative journalism program CBC Marketplace installed trackers into bales of plastic and commissioned three plastic recycling companies to process them: GFL Environmental, Merlin Plastics, and Waste Connections Canada. Merlin Plastics shredded and recycled the bales and GFL Environmental incinerated the bales in a waste-to-energy facility. Trackers indicated that Waste Connections dumped the plastic bales into a landfill in Richmond and a junkyard in Surrey, British Columbia instead of recycling them. The company responded "There was some miscommunication and the driver took this load to a waste facility."[8]

Corporate structure and leadership

Waste Connections' senior leadership is structured as follows:

  • Ronald J. Mittelstaedt, President and CEO
  • Mary Anne Whitney, Executive Vice President and CFO
  • Darrell W. Chambliss, Executive Vice President and COO

References

  1. ↑ "Waste Connections revenue 2021". Statista.
  2. 1 2 3 "Waste Connections to buy Canada's Progressive Waste for $2.67 billion". Reuters. 2016-01-19. Retrieved 2018-01-23.
  3. ↑ "Folsom-based Waste Connections to move headquarters to Texas". McClatchy.
  4. ↑ "Waste Connections buying R360". San Antonio Express-News. Retrieved 2018-01-23.
  5. ↑ Schlinkmann, Mark. "O'Fallon, Mo., council overrides mayoral veto of waste transfer deal". stltoday.com. Retrieved 2018-01-24.
  6. 1 2 3 "SEC Filings". Waste Connections, Inc. | Investors. Retrieved 2018-09-21.
  7. ↑ Agrawal, Nina. "Controversial landfill in northern L.A. County to be expanded". Los Angeles Times. Retrieved 2018-01-24.
  8. ↑ CBC "We asked 3 companies to recycle Canadian plastic and secretly tracked it. Only 1 company recycled the material", September 28, 2019
  • Official website
  • Business data for Waste Connections:
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