Clean Harbors Completes Acquisition of Teris L.L.C.; Transaction Expected to be Accretive by Year-End.NORWELL, Mass. -- Clean Harbors, Inc. ("Clean Harbors") (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 : CLHB CLHB Cardiff Local Health Board (UK) ), the leading provider of environmental 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. management services throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , today announced that on August 18, 2006, it completed the acquisition of Teris L.L.C., an environmental services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, company based in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. . Clean Harbors acquired all of the membership interests in Teris for approximately $52.7 million in cash, including $10.3 million in net working capital, from SITA U.S.A., Inc., a subsidiary of Suez Environnement, S.A. "Teris' operations represent an ideal fit with our existing disposal facilities," said Alan S. McKim, Chairman and Chief Executive Officer. "Our investment in Teris further improves our ability to service our customers and demonstrates our commitment to maintaining the largest array of service offerings in our industry. We believe that we can leverage our North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. network of waste collection and routing capabilities and underutilized rail assets to achieve substantial cost efficiencies and dramatic gains in productivity at Teris' operations." Teris operates an incineration incineration the act of burning to ashes. facility in El Dorado, Arkansas El Dorado (pronounced to rhyme with 'tornado' (IPA: [εl doˈreɪdoʊ] or [εl dəˈreɪdə])) is a city in Union County, Arkansas, USA. According to 2006 Census Bureau estimates, the population of the city is 20,467. and a treatment, storage and disposal facility located in Wilmington, California. The company currently has more than 550 employees and several field locations. In 2005, Teris reported revenue of approximately $95 million. Clean Harbors expects some limited customer attrition Customer attrition, also known as customer churn, customer turnover, or customer defection, is a business term used to describe loss of clients or customers. . The transaction offers several opportunities for synergies, particularly in the area of outsourced transportation, and is expected to be accretive by year-end. In the coming weeks, Clean Harbors will begin a comprehensive evaluation of Teris' operations to better gauge the revenue contribution going forward and level of operating costs operating costs npl → gastos mpl operacionales required by the acquisition. "We have commenced the integration process and anticipate completing the implementation of our primary processes and systems in a relatively short period of time," said McKim. "We are pleased to welcome the Teris team to Clean Harbors. Working together, we believe this transaction will be beneficial to both Teris' employees and the existing customers of both companies." About Clean Harbors, Inc. Clean Harbors, Inc. is North America's leading provider of environmental and hazardous waste management services. With an unmatched infrastructure of 50 waste management facilities, including nine landfills, six incineration locations and seven wastewater treatment centers, the Company provides essential services to over 45,000 customers, including more than 175 Fortune 500 companies, thousands of smaller private entities and numerous federal, state and local governmental agencies. Headquartered in Norwell, Massachusetts, Clean Harbors has more than 100 locations strategically positioned throughout North America in 37 U.S. states, six Canadian provinces, Mexico and Puerto Rico. For more information, visit www.cleanharbors.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Any statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, and involve risks and uncertainties. These forward-looking statements are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans to," "estimates," "projects," or similar expressions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's opinions only as of the date hereof. The Company undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements other than through its various filings with the Securities and Exchange Commission. A variety of factors beyond the control of the Company may affect the Company's performance, including, but not limited to: --The Company's ability to successfully integrate Teris' operations and assets into its existing network of services and disposal facilities; --The Company's ability to manage the significant environmental liabilities which it assumed in connection with the CSD CSD Commission on Sustainable Development CSD Serbian Dinar (ISO currency code) CSD Christopher Street Day CSD Circuit Switched Data (Sprint) CSD Computer Science Department CSD Community School District acquisition; --The availability and costs of liability insurance and financial assurance required by governmental entities relating to our facilities; --The effects of general economic conditions in the United States, Canada and other territories and countries where the Company does business; --The effect of economic forces and competition in specific marketplaces where the Company competes; --The possible impact of new regulations or laws pertaining to all activities of the Company's operations; --The outcome of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. or threatened litigation or regulatory actions; --The effect of commodity pricing on overall revenues and profitability; --Possible fluctuations in quarterly or annual results or adverse impacts on the Company's results caused by the adoption of new accounting standards or interpretations or regulatory rules and regulations; --The effect of weather conditions or other aspects of the forces of nature on field or facility operations; --The effects of industry trends in the environmental services and waste handling marketplace; and --The effects of conditions in the financial services industry on the availability of capital and financing. Any of the above factors and numerous others not listed nor foreseen may adversely impact the Company's financial performance. Additional information on the potential factors that could affect the Company's actual results of operations is included in its filings with the Securities and Exchange Commission, which may be viewed on the Investor portal of the Company's Web Page at www.cleanharbors.com. |
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