SECURITIES AND EXCHANGE COMMISSION
Washington, DC. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
EXCHANGE ACT OF 1934
November 25, 1997
Waste Systems International, Inc.
(formerly BioSafe International, Inc.)
(Exact name as specified in charter)
Delaware 95-4203626
(State or Other Jurisdiction of (I.R.S Employer
Incorporation or Organization) Identification No.)
0-25998
(Commission File Number)
10 Fawcett Street, Cambridge, Massachusetts 02138
(Address of principal executive offices, including zip code)
(617) 497-4500
Fax (617) 497-6355
(Registrant's telephone number, including area code)
This document contains a total of 5 pages.
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Item 5. Other Events
On November 20, 1997, Waste Systems International, Inc. executed a purchase and
sale agreement to acquire a 700 acre municipal solid waste landfill in Hopewell
Township, Pennsylvania from the South Central Counties Solid Waste Agency. The
landfill consists of five permitted cells, one of which is currently being
utilized, a leachate treatment facility and a recycling center. The landfill
currently has available in excess of 3 million cubic yards of capacity. In
addition, the Company has identified additional areas for expansion.
The purchase price of approximately $6 million will be paid primarily by the
assumption of debt on the facility and the transaction is expected to close
during the first quarter of 1998.
Item 7. Financial Statements and Exhibits
(a) Financial Statements
None
(c) Exhibits
WSI Press Release dated November 20, 1997.
<PAGE>
Exhibits
Exhibit No. Description Page No.
7 (c) WSI Press Release dated November 20, 1997 4
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Waste Systems International, Inc.
Date: November 25, 1997 By: /s/ Philip Strauss
-------------------
Philip Strauss
Chairman, Chief Executive Officer
and President
Date: November 25, 1997 By: /s/ Robert Rivkin
-------------------
Robert Rivkin
Vice President, Chief Financial
Officer, Treasurer and Secretary
<PAGE>
Exhibit 7 ( c)
Waste Systems International, Inc.
(formerly BioSafe International, Inc.)
10 Fawcett Street, Cambridge, MA 02138
Tel: 617-497-4500; Fax 617-497-6355
FOR IMMEDIATE RELEASE:
Contact: Waste Systems International Burson-Martseller
Bob Rivkin, Chief Financial Officer Stuart Carlisle
Tel: 617-497-4500 Tel: 212-614-4000
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WASTE SYSEMS INTERNATIONAL ("WSI") ENTERS PENNSYLVANIA
MARKET WITH ACQUISTION OF LANDFILL IN HOPEWELL TOWNSHIP
Existing Permitted Landfill Capacity Exceeds 3 Million Cubic Yards
Cambridge, Massachusetts, November 20, 1997 - Waste Systems International, Inc.
(NASDAQ: WSII) announced today that it has signed a purchase and sale agreement
to acquire the 700 acre municipal solid waste landfill in Hopewell Township,
Pennsylvania.
The purchase price of approximately $6 million will be paid primarily by the
assumption of debt on the facility. The existing three million cubic yard
landfill consists of five permitted cells, one of which is currently being
utilized. In addition, WSI has identified additional room for expansion at the
landfill. The transaction is expected to close during the first quarter of 1998.
"Pennsylvania is a brand new market for WSI, one which offers substantial growth
possibilities," commented Philip Strauss, WSI's Chairman, President and Chief
Executive Officer. "We will employ the same approach as we have successfully
done in Vermont to build a network of adjoining transfer stations and collection
companies in central Pennsylvania. This untapped region allows us to serve the
nearby collection markets of Altoona and State College, and is within
transportation distance of a number of other markets. At the same time, the
region is sufficiently distanced from the more competitive markets of Pittsburgh
and Philadelphia. Further, there are numerous tuck-in opportunities of
collection companies which would help ensure that we receive a stable, long-term
waste flow to the landfill."
WSI is an innovative solid waste management company. The Company has built a
fully-integrated solid waste management business in Vermont, which it plans on
replicating in central Pennsylvania, and has entered into a contract to operate
and remodel an existing 30-acre landfill in South Hadley, Massachusetts. The
Company is also evaluating other acquisitions or opportunities in the
Mid-Atlantic and New England markets.
Certain of the above statements may be forward looking statements that involve
risks and uncertainties. In such instances, actual results could differ
materially as a result of a variety of factors including competitive
developments and other risk factors listed from time to time in the Company's
Securities and Exchange Commission reports.
