Clean Harbors to Acquire Certain Assets of Romic Environmental Technologies Corporation.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 it has reached a definitive agreement to acquire certain assets owned by Romic Environmental Technologies Corporation ("Romic") including seven service centers. This agreement will expand Clean Harbors' presence in the Northwest and Southwest United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Terms of the agreement were not disclosed. Romic, based in East Palo Alto, California East Palo Alto (often called EPA) is a city in San Mateo County, California, United States. As of the 2000 census, the city population was 29,506 (31,915: 2003 estimate). , specializes in the collection and recycling of both hazardous and non-hazardous waste materials. Clean Harbors is not acquiring Romic's facilities in East Palo Alto, California and Chandler, Arizona Chandler is a city in Maricopa County, Arizona, USA. Chandler is one of the major suburbs of Phoenix. As of the 2000 census, the city population was 176,582. According to 2005 Census Bureau estimates, the population of the city is 234,939. , but will redirect Romic customer waste streams to Clean Harbors' comprehensive network of facilities. Clean Harbors expects to generate revenues of approximately $25-$30 million from the acquired assets in the first year after the acquisition. "The Romic acquisition affords us an outstanding opportunity to expand our West Coast presence and further leverage our unmatched infrastructure of landfills, incinerators and wastewater treatment centers," said Alan S. McKim, Chairman and Chief Executive Officer. "The location of the seven service centers is an ideal fit with our current network and is in-line with our strategy to grow our Technical Services business in underpenetrated markets. Romic has a strong heritage in the West Coast region. We look forward to working closely with the Romic team to better serve the diverse customer base that the company has steadily built during the past 40 years." Rory Moran, Interim President of Romic Environmental Technologies Corporation said, "This agreement with Clean Harbors provides the employees of Romic the opportunity to grow with a dynamic company with tremendous resources. We will be working closely with Clean Harbors to ensure that we continue to provide quality service to meet all of our customers' needs during the transition. We expect this deal to close shortly and look forward to a smooth transition." 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 49 waste management facilities, including nine landfills, six incineration incineration the act of burning to ashes. locations and six wastewater treatment centers, the Company provides essential services to over 45,000 customers, including more than 325 Fortune 500 companies, thousands of smaller private entities and numerous federal, state and local governmental agencies. Headquartered in Norwell, Massachusetts Norwell is a town in Plymouth County, Massachusetts, United States. As of the 2004 census, the town population was 10,388. History Norwell was first settled in 1634 as a part of the settlement of Satuit (later Scituate), which encompasses present day Scituate and Norwell. , Clean Harbors has more than 100 locations strategically positioned throughout North America in 36 U.S. states, six Canadian provinces, Mexico and Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. . 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. Furthermore, all financial information in this press release is based on preliminary data and is subject to the final closing of the Company's books and records. 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 Romic's operations and assets into its existing network of services and disposal facilities; * The Company's ability to manage the significant environmental liabilities that 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 and Teris acquisitions; * The availability and costs of liability insurance and financial assurance required by governmental entities relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc 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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