EQ - The Environmental Quality Company Acquires Assets of Four Businesses From US Liquids in Deal That Helps Both Companies.Business Editors WAYNE, Mich.--(BUSINESS WIRE)--Feb. 2, 2004 USL Reduces Debt and EQ Establishes an Environmental Powerhouse in Eastern United States EQ - The Environmental Quality Company (EQ) and US Liquids (AMEX AMEX See: American Stock Exchange :USL) announced today that EQ is acquiring the assets of four USL business units in Michigan, Florida, Georgia and North Carolina. USL of Florida, USL Detroit, USL Augusta and First Source, Inc. generated approximately $27 million in revenue during 2003. The transaction is scheduled to close on Wednesday, February 04, 2004. "This acquisition continues to strengthen our national presence by providing unique, facilities-based service capabilities in new geographic areas," explained EQ President David Lusk. "Combined with the facilities we've developed in the southeast and the acquisitions we made in 2003, EQ can provide a full range of environmental services throughout the eastern half of North America." EQ Florida (formerly USL of Florida) is an established Transfer, Storage and Disposal Facility (TSDF TSDF Time Slot Duty Factor TSDF Treatment Storage and/or Disposal Facility TSDF Toxic Substance Disposal Facility TSDF TACAIR System Development Facility ) located in Tampa, with a strong customer base throughout the state. The facility focuses on providing a high level of service to its customers, including Less-than-Truckload (LTL LTL - Linear Temporal Logic ) waste transportation and disposal, Household Hazardous Waste Household hazardous waste (HHW) is the term for common household chemicals and substances for which the owner no longer has a use. Exhibiting many of the same dangerous characteristics as fully regulated hazardous waste, HHW is not regulated by the EPA. collection, Lab Packing and Industrial Services. EQ Detroit (formerly USL Detroit) is one of the largest waste solidification and treatment facilities in the United States. The facility includes direct rail access to treatment tanks and extensive wastewater treatment capacity. The EQ Augusta (formerly USL Augusta in Georgia) operation is a non-hazardous wastewater treatment plant Wastewater treatment plant also called wastewater treatment works
112 pounds avoirdupois weight. ) discharge standards. EQ Mobile Recycling (formerly First Source) based in Winston, Salem, operates a fleet of mobile solvent recovery vehicles that provide on-site recycling services throughout the eastern half of the United States. "US Liquids has completed several divestitures this year that have allowed us to reduce our outstanding debt by $66 million," explained USL Chief Executive Officer William DeArman. "The sale of these assets will enable us to reduce our outstanding debt even further as we reposition the company." EQ - The Environmental Quality Company is a fully integrated environmental service and waste management organization based in Southeastern, Michigan. EQ manages ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. and QS certified treatment, disposal and recycling facilities, supported by EQ Industrial Services and its extensive line of remediation, industrial cleaning and in-plant services. Early in 2003, EQ opened a TSDF near Raleigh-Durham, North Carolina and acquired Franklin Environmental located outside Boston, Massachusetts. The company also formed a joint venture to provide marine and industrial services at the IMTT IMTT International-Matex Tank Terminals (New Orleans, LA) IMTT International Mobile Training Team petrochemical terminal in Bayonne, New Jersey Bayonne is a city in Hudson County, New Jersey, United States, south of Jersey City. As of the United States 2000 Census, the city had a total population of 61,842. According to tradition, the city derives its name from the city of Bayonne in France. , the largest chemical distribution facility in the eastern U.S. For additional information on EQ and its comprehensive line of environmental services, please logon to www.eqonline.com. |
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