Garbage and recycling bins that sported billboards on their sides will disappear from Toronto sidewalks in the coming weeks as a new contractor takes over business with city hall.
EcoMedia Direct Inc. purchased the contract to provide litter and recyclable bins from Eucan. That company invented the so-called megabins and installed 80 on sidewalks throughout the city.
But the megabins were not as popular as Eucan and city hall had hoped.
In the original deal, the city would receive $20 a month for each bin and get a piece of the advertising revenues.
Eucan did not generate as much revenue from ads as they predicted, meaning the city also received less money. With EcoMedia taking over the contract, that company hopes to renegotiate the deal.
Toronto has received a total of $3.2 million from privatized garbage containers since 1999, the Toronto Star reported. Details of the renegotiated contract will not be released until the deal is finalized, but the city still expects to make money.
"It will be less than we were expecting, but we will still net revenue," works committee chair Coun. Glenn De Baeremaeker told the Star.
EcoMedia currently has 4,000 silver bins of their own on city streets. They have already started to remove Eucan bins.
EcoMedia's contract with the city runs until October 2009.
