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Bingo Industries takes on fleet of 55

Dial-A-Dump purchase and big profit a double boost

 

Bingo Industries is climbing the rungs of big fleet owners with its $577 million takeover of Dial A Dump Industries (DADI).

Bingo says that along with property and processing material the New South Wales fully integrated recycling and waste management business owns, the deal comes with a collections fleet of 55 vehicles to join its existing complement of more than 200.

“Centralising our recycling, processing, distribution and landfill at a single site will deliver economic benefits,” Bingo CEO Daniel Tartak says of the rationale behind the purchase.

“It allows us to further grow waste volumes, by freeing up space in our satellite sites across our network, some of which can be used as transfer stations.”

There may also be an element in the Queensland government’s reimposition of waste levies, the absence of which drove the increasingly unpopular but otherwise lucrative transport operation from NSW — a move Bingo has backed.


Read about Volvo’s new electric waste truck, here


DADI founder Ian Malouf identifies the Queensland move as helping underpin a consolidation in his industry.

“I fully support Daniel Tartak the CEO and Bingo’s growth strategy, particularly the vision of a master site at Eastern Creek that can process all waste types,” Malouf says.

“With the infrastructure program in NSW and the new waste levy in Queensland, the market is only going to grow and I’m excited to be on board for the journey.”

The takeover follows Cleanaway’s move on Toxfree in April.

The announcement comes as Bingo records a near doubling of annual net profit after tax to $38 million.

The past financial year saw its trucks and machinery costs also nearly double, from$5.4 million to $9.7 million at a time when the company was transitioning to fully-Euro 5 compliance.

 

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