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BWI Holdings, Inc. (BWIH.OB) Turns Trash into Cash
BWI Holdings, Inc. is growing in a critical part of the green movement that few people talk about or even consider. While most environmental attention remains focused on electric cars, solar cells, and windmills, this Canadian company has found success in the most unglamorous niche of all, garbage. Though still serving a relatively small population of businesses and residents, primarily in Alberta, BWI has set its sights on becoming the ultimate waste disposal and support enterprise. The company operates in four business segments: solid waste, liquid services, water hauling, and septic services.
Increasingly stringent government regulations require companies and individuals to be more vigilant in their handling of waste products, and this has opened up a huge opportunity for a full service waste processing operation like BWI. The company continues its growth-through-acquisition strategy with exceptional success, and now offers complete waste and recycling services to commercial, industrial, construction, homebuilding, oilfield, and residential clients. They also support construction operations with fence rentals, sanitary facility rentals, bin rentals, and water hauling.
In addition, the company now offers state of the art hydro vac services, using specially designed equipment and highly trained operators, to pick up and process problematic mixed waste where debris is integrated with dirt and other materials. The advanced system combines high pressure water and vacuum power to create intense streams, breaking up ground, excavating, and sucking up the resulting slurry.
BWI also has an extensive recycling program, working with developers, owners, contractors, and builders, to meet waste diversion and minimization goals. They currently recycle wood, cardboard, mixed plastics, scrap metal, drywall, and even paint.
One of the advantages the company has is the way it has lined up its commercial contracts. They allow BWI to pass along, with some limitations, increased costs due to variable items, such as disposal and fuel costs, as well as surcharges. It’s another example of the careful steps BWI Holdings continues to take to turn trash into cash.
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BWI Holdings, Inc. (BWIH.OB) Leverages Seasoned Management Team to Achieve Visionary Goals
BWI Holdings, Inc., the growing commercial and industrial waste collection and processing enterprise based in Calgary, Alberta, has high aspirations: to be the #1 waste solution partner in North America. With increasing government pressure on companies to pay attention to how they dispose of trash and waste, BWI, with its multi-faceted collection and recycling solutions, is positioning itself on top of a booming market.
To get where it wants to go, the company depends on a dedicated and aggressive management team that has accumulated a wide range of commercial and industrial experience.
• Jim Can, President & CEO – Jim Can came to BWI in 2004 with a background as an accomplished strategist and marketer, together with an MBA and a vision of what the company could ultimately become. He has led BWI’s growth in contracts with a seldom found combination of operational knowledge and creativity. His strategic approach focuses on selective acquisitions, based upon a solid understanding of both U.S. and Canadian tax and securities law obtained partly while working with Carswell Thompson Professional Publishing Corporation. He has been involved with the financial restructuring of numerous companies, in the form of reverse takeovers, private financing, and through taking companies public.
• Branislov Jovanovic, COO - Branislov Jovanovic has served as BWI director since 2004, being appointed Chief Operating Officer in 2008. His dedication and ability in finding efficient and effective management solutions to company challenges comes in part from his earlier role as Total Quality Management Leader at a major hotel which was exploring and implementing waste and recycling solutions.
• Bruce Milroy, CFO, Chartered Accountant, Certified Management Consultant – Bruce Milroy brings extensive education and experience to the financial side of BWI. He has a Civil Engineering undergraduate degree and an MBA from the University of British Columbia, along with over 18 years in public accounting and auditing in a variety of economic sectors, including both U.S. and Canadian reporting companies.
• Danny McEachren, VP of External Operations – Known for his commitment to customer service, Danny McEachren came to BWI in 2006, and was promoted to V.P. of External Operations in 2008. In addition to his automotive business experience, he brought with him an intense sense of competitive achievement. Danny was an active member of the Alberta Ski Team when he was younger, going on to become a member of the Canadian National Junior Ski Team. He was the GMC Cup Champion in 2000.
• Michele Patrosh, VP of Internal Operations – One of the former partners of AllWaste Systems Ltd., Michele Patrosh has been actively involved in construction waste and recycling for over 15 years. She is a founding member of Built Green Alberta and was instrumental in the success of a recycling pilot project. Michele works diligently to establish environmentally sustainable waste and recycling strategies for customers, and to ensure quality of service to all customers.
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BWI Holdings Inc. (BWIH.OB) Inks Contract with Alberta Sustainable Resource Development to Provide Water Trucks for Fire Fighting Efforts
During the summer heat and dry seasons, a spark can start a wildfire that consumes everything in its path. The fires can be deadly to humans and wildlife, and can take days to contain. Firefighters work around the clock to get them under control – coordinated efforts and access to the right equipment is vital for fire departments.
BWI Holdings Inc., operating as Budget Waste Inc., is a Canada-based waste solutions and recycling company with commercial, industrial, construction, homebuilding, oilfield and residential clients. The company recently announced it secured a three-year contract with Alberta Sustainable Resource Development to lend support equipment to fight forest fires.
Per the agreement, BWI will remain on-call to provide water trucks for firefighters battling forest fires throughout Alberta and nearby provinces as needed, teaming up with the 10 Fire Management Areas in the Edmonton Province to put out wildfires.
According to the press release, The Provincial Forest Fire Centre in Edmonton collaborates with the 10 Fire Management Areas in the Province to bring fires under control. The centre currently leases airtankers, patrol aircraft, helicopters, dozers, crawlers and other equipment needed to put out wildfires.
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BWI Holdings, Inc. (BWIH.OB) Reports Profitable Period Despite Economy
BWI Holdings, Inc., the small but growing Canadian based waste collection and processing company, has shown a remarkable ability to generate profit in spite of one of the worst economic downturns in memory. While many far larger companies have been scrambling just to remain in business, BWI continues to make money, moving forward toward its goal of becoming the #1 waste solution partner in North America.
One of the obvious strengths of the company is the simple fact that people require basic waste collection even in bad times. But commercial and industrial operations have been cutting back and closing their doors at an unprecedented rate, and less production means less waste material to be picked up and processed.
Nevertheless, even with drops in overall revenue, BWI reported revenue of $8,339,000 for the eight months ending December 31, 2008, with a net income of $153,000. This included positive revenue and net income figures for the last two months of that same period. In fact, the net income figures represent a substantial increase in profitability considering the magnitude of losses incurred in prior years while integrating and consolidating many different companies. In addition, higher gross margin percentages for the periods were evidence of the success of BWI’s cost cutting and process improvement strategies.
Jim Can, BWI CEO, spoke of the significance of the achievement. “Given the extremely tough economic climate that we have to deal with, we are very pleased that we can remain profitable and at the same time continue to give excellent customer service. I am extremely proud of our team who recognizes the tough economic times and is willing to persevere, work hard and maintain our strong momentum.” He went to say that they expect to continue growing company sales and improving profitability in the next fiscal year.
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BWI Holdings Inc. (BWIH.OB) Inks Exclusive Agreement with Rohit Communities to Ensure Responsible Waste Management
BWI Holdings Inc. operates as Budget Waste Inc. to provide waste solutions and recycling services for commercial and residential clients in Western Canada. The company’s array of offerings enables it to serve commercial, industrial, construction, homebuilding, oilfield and other clients.
The company recently announced a one-year agreement with Rohit Communities, in which Budget Waste will provide waste removal, wood recycling, temporary fencing and portable toilets throughout construction efforts. At the time of the release, Rohit maintained seven multi-family projects, as well as one duplex project, creating various opportunities for Budget Waste’s services.
The company will work closely with Rohit to determine its waste needs and ensure proper maintenance on the construction sites. Budget Waste promotes environmental responsibility and participates in several programs, such as L.E.E.D.S, Built Green Alberta and Go Green, to execute proper waste disposal services.
The year-long exclusive agreement marks significant business for BWI as Rohit anticipates three more projects in the upcoming year. Rohit is part of the Rohit Group of Companies, a residential dwelling construction company that has been developing neighborhoods for more than 20 years. Rohit develops single family homes, bungalow and two-storey duplexes, townhomes and apartment condos.
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BWI Holdings, Inc. (BWIH.OB) Reports Fourth Quarter Results and Year End Operating Results
BWI Holdings, Inc. was pleased to announce this morning the results of its subsidiary’s (Budget Waste Inc.) operations for the year ended March 31, 2009. For the three months and year ended March 31, 2009, the company generated revenues of $2,017,000 and $11,777,000 respectively, compared to $4,091,000 and $16,680,000 for the three months and year ended March 31, 2008. The decrease was expected in view of the downturn of the residential and industrial construction markets.
Mr. Bruce Milroy, CFO, stated, “On March 4, 2009 we announced that as a result of the global financial crisis and economic downturn that we would restructure and consolidate our operations. To ensure the longevity of the company and ensure that we were successful in our restructuring, we entered CCAA protection. We are now pleased to update the shareholders on the success of our restructuring, even over a limited period, and report that for the year ended March 31, 2009, we will present a significant positive net income and strong tangible assets. We will continue to restructure our operations and reduce overall costs, and as the economy improves, so will our profitability.”
The gross margins for the quarter and year ended March 31, 2009 totaled $743,000 and $3,697,000 respectively, representing 36.8% and 31.4% of revenue. For the year ended March 31, 2008, gross margins were $1,281,000 or 31.3% of revenue for the three months and $4,511,000 or 27.0% of revenue. The higher gross margin percentages were the result of cost cutting and process improvement strategies.
The company’s fourth quarter net income totaled $171,000 compared to ($632,000) for the same period a year earlier. Net income for the year ended March 31, 2009 totaled $324,000 compared to ($1,308,000) for the year ended March 31, 2008. This was a substantial increase in profitability considering the magnitude of the losses incurred in prior years while integrating and consolidating many different companies acquired in 2006 and 2007.
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BWI Holdings Inc. (BWIH.OB) Takes on Competitive Edge with Recruitment of Fresh Traffic Group
Times are tough for every one – and during harsh economic environments, a competitive approach is needed for survival. Gaining the trust and loyalty of a targeted demographic or market is one thing, grabbing their attention in the first place is another.
Canadian waste solutions company BWI Holdings Inc. (BWIH.OB) is taking a proactive step to stand out from its competition while taking advantage of technological opportunities for expansion. The company recently announced it has chosen Fresh Traffic Group to assist with the development and enhancement of its online visibility and market presence.
“We recognize the huge potential the Internet provides our business; both in helping to attract clients interested in our waste removal and recycling services, but also in the visibility of the investment opportunity to potential investors,” CEO and president of BWI Jim Can stated in the press release.
The Fresh Traffic Group is operated by former director of Google UK, Jerry Booth, a position that earned him extensive experience with Nasdaq-listed companies. The Fresh Traffic Group’s leadership and unique targeted approach is expected to benefit BWI and its shareholders.
“We only work with one company in an industry, focusing on making them a leader on the Internet for the products and services they offer. Clients see their Web site traffic increase drastically, which directly results in an increase in sales. This also opens new business opportunities that may have not otherwise been available if not for the increased online visibility,” Booth stated in the press release. “Canadian companies are only beginning to realize the power of the Internet, and we are poised to maximize benefits on this new awareness. Working with companies that are well respected by the consumer like Budget Waste Inc. is, will only enhance our image as leaders in Search Marketing in Canada.”
For BWI, an online marketing strategy will boost its presence and offer an array of new avenues to attract clients and shareholders, an important feat in today’s tough market.
“We are excited by the new opportunities that will result in high placement on the major search engines. Investing in our Web presence is a component of our marketing mix that we see as extremely valuable to the growth of our business. Our diversified offering of services to residential and commercial customers will now be visible, enabling us to increase our market share and improve revenue growth figures,” Can stated.
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BWI Holdings, Inc. (BWIH.OB) Renews Contracts in Western Canadian Town
A leading provider of waste and recycling services, BWI Holdings, Inc. was pleased to announce last month that the Town of Cochrane has elected to renew their contract with BWI Holdings, Inc., operating as Budget Waste, Inc., until January 2011.
Situated about 35 kilometers northwest of Calgary, Cochrane has grown at a rate of approx. 10% per year. Budget Waste, Inc. is proud to be part of its growth and success. Budget Waste, Inc. has provided curbside pickup for Cochrane for over three years, and will continue to provide the service to 5,000 homes. The contract is estimated at $1,000,000 over two years.
Danny McEachren, VP External Operations of Budget Waste, Inc., said, “We are extremely pleased that the town of Cochrane has renewed their contract for another 2 years. We look forward to continuing to provide the level of service they have been accustomed to with Budget Waste, Inc.”
BWI Holdings, Inc. is a Western Canadian waste solutions company that provides waste and recycling services to commercial, industrial, and residential clients. With a broad range of innovative services, the company has successfully grown through acquisitions. The company prides itself on its growth and focus on customer needs, and is looking forward to further expanding their services.
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Budget Waste, Inc. (BWIH.OB) is Compliant with Alberta Canada Health and Safety Standards
BWI Holdings Inc., operating as Budget Waste Inc., is a waste solution company in western Canada. The company provides solid waste services, hydrovac truck services, and oilfield waste services.
Budget Waste was recently rewarded a Certificate of Recognition to acknowledge its compliance with health and safety standards established by the Alberta Ministry of Employment and Immigration. The company was granted the certificate after a two-year comprehensive evaluation by an independent external auditor.
Companies with this certification are responsible organizations that place a high value on safety and that must pass an annual audit. Budget Waste has a health and safety management safety process in place to minimize the incidence of injury and illness to workers involved in company operations. This is accomplished through identifying, assessing and controlling risks to workers in all workplace operations.
President and CEO of Budget Waste, Jim Can, said, “At Budget Waste Incorporated, we value safety as a cornerstone of our operations. We are positioning our organization to lead the waste industry in safety, service, environmental stewardship, and diversity.”
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BWI Holdings, Inc. (BWIH.OB) Continues to Branch Out
You could say that BWI Holdings, Inc. is really into garbage. But the growing waste solutions company based in Alberta, Canada now goes well beyond standard residential trash handling. BWI has managed to firmly establish itself in a full range of related waste handling and recycling operations, serving commercial, industrial, construction, homebuilding, and even the oil field industry. They also provide special support to the construction industry, in the form of things like fence and sanitary facility rentals, as well as hydrovac site cleanup and water hauling.
In order to manage its diverse operations, BWI has divided itself into four business segments:
• Solid Waste
• Liquid Services
• Water Hauling
• Septic Services
BWI’s source of revenue is based upon customer fees for waste collection, landfill disposal, and recycling. The company’s activities cover operations in Calgary, Edmonton, and the smaller Alberta communities of Edson and Red Deer. Services to commercial customers are usually under service agreements or municipal contracts. The commercial contracts allow BWI to pass on increased operational costs, providing increased income stability.
Growing pressures from governments to clean up the environment, forcing companies to be more vigilant about how they handle waste, has helped BWI with its full service waste processing operations. The company works closely with developers, owners, contractors, and builders to meet requirements through carefully designed recycling programs. BWI currently recycles wood, cardboard, mixed plastic, scrap metal, drywall, and paint.
In addition, BWI now offers state of the art hydrovac services, allowing them to collect and process mixed waste where debris is integrated with dirt and other materials. It requires specially designed equipment and highly trained operators, but gives the company one more edge in the marketplace.
It’s all part of a diversification strategy that BWI believes will allow it to grow well into the next decade.
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