BioSafe signs contract with waste management worth $30 million.CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sept. 27, 1995--BioSafe International Inc. (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 : BSFE BSFE Bureau of Surveillance and Field Epidemiology ) announced today that it has signed a seven year put-or-pay waste contract for the Fairhaven landfill with Waste Management Inc. (NYSE NYSE See: New York Stock Exchange : WME WME Windows Media Encoder (filename extension) WME Windows Millennium Edition (Microsoft) WME Weapons of Mass Effect WME Wintermute Engine WME Wireless Multimedia Enhancements WME Working Memory Element ). BioSafe currently operates and manages the 28-acre landfill in Fairhaven, Mass., its first landfill remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling site. BioSafe has a contract to remodel the 27-acre landfill in South Hadley, Mass., and is currently in the process of gaining the necessary permits to begin operations of its 80 percent owned 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 Moretown, Vt. In each project BioSafe is employing its patented landfill remodeling technology. Over the term of the contract Waste Management will supply BioSafe with acceptable wastes to be deposited in the Fairhaven landfill. The contract is expected to result in revenues of approximately $30 million for BioSafe, with revenues increasing annually based on the previous year's CPI over the term of the contract. The term of the waste agreement is Aug. 1, 1995, through July 31, 2002. BioSafe International Inc. is a fast growing, innovative solid waste management company. The company is the world leader in "landfill remodeling" -- a patented process that BioSafe developed for recycling existing landfills. BioSafe is also evaluating additional opportunities to apply its patented materials handling and size reduction technologies, including tire and rubber waste recycling, medical waste treatment, dredged spoils remediation, and industrial sludge disposal. CONTACT: BioSafe International Emily Peterson, 617/497-4500 or Liviakis Financial Communications Inc. Robert Prag, 916/448-6084 |
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