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American Ecology Announces Waste Shipments Delayed at New Jersey Site; Shipments Expected to Resume In 3 Months or Less.


BOISE, Idaho “Boise” redirects here. For other uses, see Boise (disambiguation).

Boise is the capital and most populous city of the U.S. state of Idaho. It is the county seat of Ada County and the principal city of the Boise metropolitan area.
 -- Stephen Romano, President and Chief Executive Officer of American Ecology Corporation (NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
:ECOL ECOL es.comp.os.linux.* (newsgroups)
ECOL Emmanuel Church of Lakewood (San Francisco, CA) 
) today announced that waste shipments under the Company's transport, treatment and disposal contract with Honeywell International Inc. for a site in Jersey City, New Jersey have been delayed.

Honeywell recently notified the Company that waste excavation associated with construction of a subsurface barrier wall surrounding the site is complete. Material from this initial excavation phase has been shipped off-site for disposal. Honeywell further notified the Company that shipments from the main, multi-year excavation would be delayed for up to 90 days, although shipments could resume earlier.

"Like other large remedial projects, the pace and timing of on-site excavation work and the availability of waste for shipment to American Ecology are beyond our control," stated Romano, adding, "Our contract with Honeywell remains in full effect and we look forward to receiving substantially all of the waste removed from the Jersey City site once the main excavation resumes."

American Ecology will assess Honeywell certain fees for not meeting minimum weekly shipment requirements as provided for under the Contract. The Company will also pay certain fees to its New Jersey subcontractor. Management is presently working with Honeywell and its subcontractors to minimize delay costs.

Awarded in June 2005, the contract commits Honeywell to provide American Ecology 99% of the chromite chromite (krō`mīt), dark brown to black mineral. It is an iron-chromium oxide, FeCr2O4, with traces of magnesium and aluminum.  ore processing residues removed from the site during the upcoming main excavation phase.

Total waste volumes at the site have been estimated at approximately one million tons. On October 6, 2005, Honeywell filed a motion in U.S. District Court, District of New Jersey to reduce the amount of material removed from the site by 53%. The motion is presently under judicial review.

American Ecology Corporation, through its subsidiaries, provides radioactive, PCB PCB: see polychlorinated biphenyl.
PCB
 in full polychlorinated biphenyl

Any of a class of highly stable organic compounds prepared by the reaction of chlorine with biphenyl, a two-ring compound.
, hazardous, and non-hazardous waste services to commercial and government customers throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , such as nuclear power plants, steel mills, medical and academic institutions and petro-chemical facilities. Headquartered in Boise, Idaho, the Company has disposal facilities in Idaho, Nevada, Washington and Texas, and is the oldest radioactive and hazardous waste Hazardous waste

Any solid, liquid, or gaseous waste materials that, if improperly managed or disposed of, may pose substantial hazards to human health and the environment. Every industrial country in the world has had problems with managing hazardous wastes.
 services company in the United States.

This press release contains forward-looking statements that are based on management's current expectations, beliefs, and assumptions about the industry and markets in which American Ecology Corporation and its subsidiaries operate. Actual results may differ materially from what is expressed herein. No assurance can be given that Honeywell will timely resume off-site shipments, ship volumes originally projected, or that the fees being assessed will cover all project delay costs. Nor can the Company provide assurances it will satisfactorily perform under the terms of the contract, meet its profitability objectives for the project, or successfully execute its overall business plan going forward. For information on other factors that could cause actual results to differ from expectations, please refer to American Ecology Corporation's Annual Report on Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 and Quarterly Reports on Form 10-Q Form 10-Q

See 10-Q.
 filed with the Securities and Exchange Commission.
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Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Oct 27, 2005
Words:489
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