RenX Enterprises Corp. (NASDAQ:RENX) today announced that its wholly-owned logistics subsidiary, Zimmer Equipment Inc. ("ZEI"), has entered into a new hauling agreement with one of the largest waste management companies in North America, the same customer under the service agreements the Company has previously announced. ZEI began hauling under the agreement on September 8, and has run the route every operating day since, moving municipal solid waste from a transfer station in the Tampa Bay region to a permitted landfill. ZEI's first four days on the route, September 8 through September 11, generated more than $30,000 in ticketed hauling charges.
The agreement is structured as a trial engagement with the potential for a multi-year extension. ZEI is compensated on a per-load basis and is responsible for the equipment and CDL-licensed drivers used to perform the work. The engagement is separate from ZEI's existing transport agreements with the same customer, which run through 2028, and it expands the geography ZEI serves for that customer, adding a route into an area ZEI has not previously served for this customer.
Transfer hauling is how large waste companies move material from dense collection areas to disposal capacity outside the metro, and it is awarded to carriers that show up every day with reliable equipment and licensed drivers. That is the operating profile ZEI has built, and it is the same one that has served this customer across Tampa Bay.
RENX shares retreated 10 cents, or 5.8%, to $1.63.
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