BioSafe acquires 200 acre landfill site in Vermont.CAMBRIDGE, Mass.--(BUSINESS WIRE)--May 11, 1995--BioSafe International, Inc. (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). Bulletin Board: BSFE BSFE Bureau of Surveillance and Field Epidemiology ) announced today that its 80% owned subsidiary, Waste Professionals of Vermont (WPV WPV Workplace Violence WPV Wiener Psychoanalytische Vereinigung (German: Viennese Psychoanalytical Society) ), has purchased the Palisades Palisades, cliffs along the west bank of the Hudson River, NE N.J. and SE N.Y., extending from N of Jersey City, N.J., to the vicinity of Piermont, N.Y., with a general altitude of from 350 ft to 550 ft (107–168 m). Landfill in the Town of Moretown, Vermont from the Rainbow Trust. The purchase was approved by the U.S. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. in Rutland, Vermont. The Palisades Landfill is located on a 200 acre parcel adjacent to Route 2 in Moretown, Vt. The site has a partially completed lined cell which WPV expects to permit and complete the cell construction by 12/15/95. The completed cell will have a capacity of around 150,000 tons of waste. The site also has a 20 acre portion on which WPV plans to permit and construct a new lined landfill with a total capacity of 700,000 tons. There are additional areas on the site which are suitable for Landfill Remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling using BioSafe's patented technology. This technology can provide space to fill an additional 600,000 tons of waste. With a planned fill rate of 400 tons per day, the total project life is estimated to be over 12 years. Potential revenues over the life of the project are projected to be over $94,000,000. "The Palisades Landfill will provide the state of Vermont with an economical and environmentally safe option for the disposal of its solid waste stream. This acquisition fits well with our goal of becoming an important player in the solid waste landfill and landfill remodeling business," commented Dr. Richard Rosen, president & 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 BioSafe International. BioSafe International has developed proprietary technology and equipment to solve environmental problems in an environmentally safe and cost effective manner. Principle applications for BioSafe's technologies include landfill remodeling, tire and rubber waste recycling, contaminated soil remediation, industrial sludge disposal, and infectious medical waste disposal. BioSafe International is focusing its efforts on remodeling unlined municipal landfills and is currently operating the largest landfill remodeling project in the world - a 23 acre landfill in Fairhaven, MA. CONTACT: BioSafe International Inc. John Cappadona, 617/497-4500 or Liviakis Financial Communications Inc. John Liviakis or Robert Prag, 916/448-6084 |
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