American Ecology Sells Oak Ridge Brokerage Business to Chase Environmental Group; Sale Reflects Continued Focus on Core Waste Processing and Disposal Business.Business Editors BOISE, Idaho--(BUSINESS WIRE)--Dec. 20, 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 customer information for the Company's 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. radioactive waste brokerage business to Chase Environmental Group, Inc. of Louisville, Kentucky. This follows the November sale of the Company's Nuclear Equipment Service Center assets in Oak Ridge to Alaron. "The successful sale of our Brokerage Services continues the execution of American Ecology's business strategy of focusing on our core waste processing and disposal services," Romano stated, adding "We are confident Chase Environmental will continue the quality service provided in the past to our customers." Equipment, customer account information, and other Brokerage Service assets were sold to Chase Environmental Group for an unspecified amount of cash. In conjunction with the sale, American Ecology has established a teaming relationship with Chase. "Our Company has enjoyed a long working relationship with Chase Environmental Group," Romano stated, concluding, "this sale and teaming arrangement will be beneficial 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, 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 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 Form 10-Q See 10-Q. filed with the Securities and Exchange Commission. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion