American Ecology Sells Nuclear Equipment Service Center Assets to Alaron Corporation; Company Continues Focus on Core Processing and Disposal Business.Business Editors BOISE, Idaho--(BUSINESS WIRE)--Nov. 7, 2001 Steve Romano, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of American Ecology Corporation (Nasdaq:ECOL ECOL es.comp.os.linux.* (newsgroups) ECOL Emmanuel Church of Lakewood (San Francisco, CA) ), today announced the sale of specified assets and contracts at the Company's Nuclear Equipment Service Center 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. to Alaron Corporation of Wampum, Pennsylvania. "The successful sale of the principal assets of our Nuclear Equipment Service Center (NESC NESC National Electrical Safety Code NESC NASA Engineering and Safety Center NESC National Energy Software Center (obsolete; see ESTSC) NESC National Elite Sports Council (Australia) ) to Alaron Corporation allows us to concentrate our focus on American Ecology's core waste processing and disposal businesses," Romano stated, adding "We are confident NESC's customers will be pleased with the commitment and services provided by Alaron Corporation." The Nuclear Equipment Service Center provided electric motor and equipment refurbishment and testing services for the nuclear utility industry. Equipment, contracts and other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. of the Nuclear Equipment Service Center were sold to Alaron for an unspecified amount of cash and future royalties. "The Center's building and infrastructure will now be available for other business uses," Romano added, concluding "This is a good deal for both companies." 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, steel mills 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 herein and no assurance can be given that the Company can successfully implement its core business strategy and improve 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 filed with the Securities and Exchange Commission. |
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