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REGISTRATION NO. 33-44849
FILED PURSUANT TO RULES 424(b)(3) AND (c)
PROSPECTUS SUPPLEMENT DATED DECEMBER 13, 1995 TO
PROSPECTUS DATED MAY 1, 1995,
AS SUPPLEMENTED BY A PROSPECTUS SUPPLEMENT DATED NOVEMBER 28, 1995
On December 8, 1995, the Board of Directors of WMX Technologies, Inc.
(the "Company") authorized the repurchase by the Company of up to 25,000,000
shares of its common stock from time to time in the open market or in privately
negotiated transactions over a 24-month period. On the same date, the Board of
Directors of the Company's 56%-owned Wheelabrator Technologies Inc. subsidiary
("WTI") authorized WTI to repurchase up to 20,000,000 shares of WTI's common
stock over a 24-month period. Both authorizations supersede existing common
stock repurchase programs.
The Company also announced that a largely non-cash exceptional charge
of (Pounds)96.4 million (after tax) by Waste Management International plc
("Waste Management International"), a majority-owned subsidiary, would reduce
the Company's net income in the fourth quarter of 1995 by approximately $111
million, or $.23 per share. The charge results from a review of Waste
Management International's operations and structure and reflects Waste
Management International's intention to refocus on its core waste services
business. Waste Management International expects 1995 fourth quarter results to
be below expectations and does not expect more than 5% to 10% growth in its
earnings in 1996.
As a result of the Company's ongoing strategic review, the Company's
Rust International Inc. subsidiary ("Rust") will sell its process engineering
and construction businesses and focus on its environmental and infrastructure
consulting practices. The businesses to be sold are expected to generate
$800,000,000 to $850,000,000 in gross revenues for Rust in 1995. Rust will
engage investment bankers to review the operations selected for divestiture in
order to determine whether their carrying value should be adjusted prior to
sale. Depending on the outcome of this review, which is expected to be
completed by the end of January 1996, the Company might record a non-cash charge
in the fourth quarter of 1995.
