Bingo buys domestic rival to gain from China waste import ban

SYDNEY: Australian garbage handler Bingo Industries is buying smaller rival Dial A Dump Industries for A$577.5mil to build capacity to process kerbside trash, in a move aimed at cashing in on a Chinese ban on waste imports.

With the cash and shares deal, newly-listed Bingo will acquire a big dump in Sydney, lift its exposure to a booming building waste market in the city and benefit from ever rising quantities of refuse thanks to steady population growth.