American Ecology announces closing of Gibraltar Chemical Resources acquisition.HOUSTON--(BUSINESS WIRE)--Jan. 4, 1995--American Ecology Corporation, a hazardous waste disposal and services company, announced that it has completed the acquisition of Gibraltar Chemical Resources Inc. (GCR (1) (Group Code Recording) An earlier encoding method used on magnetic tapes and Apple II and Mac 400K and 800K floppy disks. (2) (Gray Component Replacement) A method for reducing the amount of printing ink used. ), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Mobley Environmental Services, Inc. GCR provides hazardous waste disposal, fuels blending, solvent recycling, and transportation. The announcement of a definitive agreement for the proposed acquisition was made on May 11, 1994. The effective date of the sale was Dec. 31, 1994. Terms of the acquisition include a total purchase price of $5.6 million, of which $2.8 million represented repayment of certain GCR debts to an affiliate of Mobley Environmental Services, Inc. GCR provides services to the hazardous and industrial waste management markets. Located in Winona, Texas, its assets include fuels blending and solvent recycling facilities, two deepwell disposal systems and the Surecycle(R) business segment, a waste management system designed specifically for small volume generators. Transportation, collection, and technical support operations located in El Paso, Texas, and Laredo, Texas, are included in the acquisition. The facility will operate as American Ecology Environmental Services Corporation. Harry J. Phillips, Jr., chairman and chief executive officer of American Ecology, commented ``The addition of fuels blending, solvent recycling and liquid waste disposal capabilities will significantly enhance our current service line, while promoting growth opportunities in national markets throughout the United States and new markets in Mexico.'' American Ecology operates a chemical waste disposal facility in Nevada and two in Texas. The Company also operates 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) (LLRW LLRW Low-Level Radioactive Waste ) disposal facility in Washington, has received a license approval for a similar facility in California, has a license application pending for a LLRW disposal facility in Nebraska, and operates a LLRW processing facility in Tennessee. Services provided by the Company include waste packaging, transportation, consulting, pretreatment pretreatment, n the protocols required before beginning therapy, usually of a diagnostic nature; before treatment. pretreatment estimate, n See predetermination. , disposal, fuels blending, recycling, and clean-up services. The Company's common stock trades on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol ECOL ECOL es.comp.os.linux.* (newsgroups) ECOL Emmanuel Church of Lakewood (San Francisco, CA) . CONTACT: American Ecology Corporation, Houston C. Clifford Wright, Jr. or William P. McCaughey, 713/624-1900 |
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