American Ecology Enters Ten Year Sublease with State of Washington for Disposal Facility; Sublease Includes Four Ten Year Renewal Options.BOISE, Idaho -- 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 subsidiary US Ecology Washington, Inc. has entered into a renewable ten year sublease agreement with the Washington Department of Ecology The Washington Department of Ecology, or simply, Ecology, is an environmental regulatory agency for the State of Washington. The department administers laws and regulations pertaining to the areas of water quality, water rights and water resources, shoreline management, to continue operating a 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) disposal facility on the U.S. Department of Energy Hanford Reservation near Richland, Washington. "This renewal allows US Ecology to continue serving the low-level radioactive waste disposal needs of medical and academic institutions, government agencies, electric utilities, biotechnology companies and other industry in the Northwest and Rocky Mountain Compact regions," Romano stated, adding "US Ecology places great value on its longstanding relationship with the State of Washington and its citizens and we are pleased to have successfully concluded this important agreement." Sublease terms include four ten year renewal options and an annual, inflation-adjusted rental payment of approximately $63,000. The sublease is consistent with a prime lease entered between the State of Washington and the federal government in 1964. "Our Washington team looks forward to continuing to deliver safe, environmentally protective disposal services as we have since opening our Richland facility in 1965," Romano concluded. 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, such as nuclear power plants, steel mills, medical and academic institutions and petro-chemical facilities. Headquartered in Boise, Idaho, American Ecology 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 herein and no assurance can be given that the company can fulfill the requirements of the sublease or generate future earnings. For information on factors that could cause actual results to differ from expectations, please refer to American Ecology Corporation's 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 most recent Form 10-Q filed with the Securities and Exchange Commission. |
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