mc waste corporate plan

Posted on September 2, 2012 by mcooper

Overview
Management is committed to employing its improvement and market-focused strategies with the goal of delivering additional
value to the Company’s shareholders. Management is further committed to deliver a multi-pronged approach in its delivery of
shareholder value, which may include some or all of the following: business growth through strategic acquisition, reinvestment in
the business to drive organic growth or operating efficiencies, share repurchases and/or dividend increases. Management’s
objective is to continuously improve the business, which equates to a focus on revenue growth and effective cost management.
New market entry, existing market densification and landfill development is our business focus as we look for ways to expand our
operations, increase customer density in strategic markets, and increase the internalization of disposed waste. In addition, we will
continue to investigate and review alternative technologies for waste diversion, and when appropriate, invest in them. Our
strengths are founded in the following: historical organic growth, growth through strategic acquisition, strong competitive
position, a solid customer base with long-term contracts, disciplined operating process, predictable replacement expenditure
requirements and stable cash flows. We are committed to actively managing these strengths in the future.
Strategy
Increase collection density. Operating in high density urban markets provides us with the opportunity to develop significant
collection density. Our ability to strategically increase collection density in a given market enhances our flexibility to pursue
organic growth strategies, generate cash flow and achieve margin expansion through vertical integration. In addition, increasing
our revenue per hour against a fixed cost base creates operating leverage in our business model. We intend to continue our focus
on growing within existing markets that support our market strategy and will pursue growth in new markets that provide similar
opportunities.
Optimize asset mix to improve return on capital. Balancing the composition of assets within our segments and operating areas
allows us to execute our asset productivity strategies. By optimizing our collection, recycling and disposal assets around a mix of
commercial, industrial and residential customers, we believe we can increase our return on invested capital. Our asset mix in
Canada has consistently generated strong adjusted EBITDA(A). We have and will continue to execute a variety of strategies to
adjust our asset mix and to improve margins in our U.S. operations. Accordingly, we intend to acquire collection assets to
increase density and optimize price and volume strategies in our U.S. northeast operations.
Generate internal growth. We seek to leverage our market positions and asset profile to drive internal revenue growth. Through
focused business development efforts, we seek to increase contracted waste volumes in the markets we serve. In particular, we
are focused on obtaining new commercial, industrial and residential contracts in markets that we can integrate into our existing
operations. By increasing route density, we can strengthen the internalization and margin profile of our existing operations. In
addition, we intend to apply different pricing strategies, when appropriate, to adequately capture the value of our service
offerings.
Increase internalization. We seek to increase internalization in the markets we serve by controlling the waste stream from our
collection operations to our disposal assets. Internalization gives us greater ability to control costs by avoiding third-party landfill
tipping fees and allows for greater asset utilization within our business. We believe vertical integration is critical to our objective
of achieving access to a landfill or other waste disposal facility on favorable terms and to maintaining a steady supply of waste,
which is needed to operate these facilities economically. In support of our internalization goals, we aim to increase route density
and acquire assets that enhance vertical integration opportunities in our markets.
Pursue strategy enhancing acquisitions. We employ a disciplined approach to evaluating strategic acquisitions. We intend to
pursue acquisitions that support our market strategy and are accretive on a free cash flow(B) basis. Our acquisition efforts are
focused in markets that we believe enhance our existing operations or provide significant growth opportunities. We have

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