41239 ledlights.blog

What is the story of Waste management companies?

Reading Time: 3 minutes
spotify badge ledlights.blog

One of the reasons for the awareness, sustainability, and recycling of data, pictures, or videos being circulated or popularised is to get the attention of your daily consumption and the contribution to waste production. Waste management is a global concern.

More waste shows a large amount of consumption, so are we not supposed to be aware of our daily consumption and restrict it to only how much we need?

As said by Vivienne Westwood, Fashion Designer, “Buy less, choose well.”

The market size of waste management is expected to rise to $484.9 billion by 2025. With various waste handling treatments, it has been seen as an industry to grow, be profitable as well as maintain sustainability.

Waste Management Inc. was founded in 1968. It was headquartered in Houston, Texas. The revenue recorded by the company in 2020 was 1, 521.8 crores USD. The CEO of the company is James C. Fish Jr.

The founders are Wayne Huizenga, Dean Buntrock, and Lawrence Beck. The company products are Bagster and PACK-RAT. The services are catered to waste, recyclables, yard debris, and hazardous materials collection, hauling, treatment, and disposal Dumpster rental, portable toilet rental, and security services.

The company is involved in commercial, residential, and other parts with various processes such as single-stream recycling, e-cycling, and waste conversion to energy.

So how did the company come into existence?

A Dutch immigrant named Harm Huizenga in Chicago started to transport garbage at $1.25/wagon in 1893. The journey transformed into what we know as Waste Management Inc in 1968 by Wayne Huizenga, Dean Buntrock, and Larry Beck by purchasing the smaller garbage collection services spread around the country. It became the descendant firm of Harm Huizenga.

Waste Management company went public in 1971 and 1972, the company acquired 133 companies with $82 million in revenues. The company not only targeted the commercial and industrial sectors but also the residents of several states. 600,000 residential customers, quite a number I guess.

It became the largest waste hauler in the country after acquiring Service Corporation of America. (SCA) in the 1980s and 1993, Waste Management, Inc. changed to WMX Technologies Inc.

The company also had its fair share of scandals within the account segment where one of the accounts department officers got accused of “the financials look the way we want to show them.” In 2005, an amount of $30.8 million was settled with the federal government. But the guilt was never admitted.

Nevertheless, the company became a universal as well as top 10 company in the waste management sector also providing services such as solid waste removal, recycling, and disposal.

The next is

Waste Connections, Inc. was founded in 1997 with a revenue of 492 crores USD. The company is headquartered in The Woodlands, Texas, Vaughan, and Ontario. The company was formed by a group of professionals in Washington and Idaho with experiences related to the waste management industry.

In North America, the company holds a rank 3rd position in the waste management industry. The services are waste collection, transfer, disposal, and recycling services of solid wastes. Within a year, the company expanded its outreach and went public by launching its IPO in 1998. It got its presence in 32 US states with its operations.

In 2018, the waste connections also removed Inc. and became known as the waste connections.

However, with such an impressive growth rate, the country is not without its scandal news of not recycling the plastic bales but dumping them into Richmond landfill and British Columbia junkyard.

The response by the company was “There was some miscommunication and the driver took this load to a waste facility.” Nobody knows how much the response is true but the company managed to pull its name from the controversy and is steadily expanding.

Well, two companies catering the services in the same segment however got their unique journey as well as controversies.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.