American Ecology Corporation Announces Nuclear Contracts; Tennessee Subsidiary Receives Three Long-term Contracts to Serve 25 Nuclear Power Plants.Business Editors BOISE, Idaho--(BUSINESS WIRE)--April 26, 2001 Jack Lemley, Chairman, President, and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Boise, Idaho based American Ecology Corporation (Nasdaq:ECOL ECOL es.comp.os.linux.* (newsgroups) ECOL Emmanuel Church of Lakewood (San Francisco, CA) ), today announced the award of three long-term service contracts to its subsidiary in Oak Ridge, Tennessee Oak Ridge is an incorporated city in Anderson and Roane Counties in East Tennessee, about 25 miles northwest of Knoxville. Oak Ridge's population was 27,387 people at the 2000 census. . The contracts establish pricing terms for the transportation, processing and disposal of low-level radioactive waste Noun 1. low-level radioactive waste - (medicine) radioactive waste consisting of objects that have been briefly exposed to radioactivity (as in certain medical tests) materials from 25 commercial nuclear power plants. The contracts are expected to produce revenues of at least $6 million over the next three years. "These contracts demonstrate the confidence placed in our Oak Ridge operation by the electric utility industry," Lemley stated, adding "We are very pleased to win these three contracts, which are an important component of our strategy to achieve long-term profitability at the Oak Ridge facility." Exelon Corporation awarded the Oak Ridge facility a three-year comprehensive service contract for all 19 of its operating nuclear power plants in Illinois, Pennsylvania, and New Jersey. First Energy Nuclear Operating Company operating company A business that engages in transactions with outsiders. also awarded the Oak Ridge facility a three-year contract for its four nuclear power units in Ohio and western Pennsylvania. Niagara Mohawk Power Corporation awarded the Oak Ridge facility a two-year service contract, with a one-year extension option, to transport, process and dispose of contaminated contaminated, v 1. made radioactive by the addition of small quantities of radioactive material. 2. made contaminated by adding infective or radiographic materials. 3. an infective surface or object. metals from its two-unit nuclear power station in Oswego, NY. American Ecology Corporation, through its subsidiaries, provides a variety of 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, such as nuclear power plants, medical and academic institutions and petro-chemical facilities. Headquartered in Boise, Idaho, the Company 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 our 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 in these forward-looking statements and there can be no assurance that work orders received under the contracts will contribute to earnings for the Company, or that the Company will receive additional work orders. American Ecology has no duty or obligation to update any forward-looking statement made herein. Please refer to American Ecology Corporation's most recent quarterly and annual reports filed with the Securities and Exchange Commission. |
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