U S Liquids Announces the Closing of Three Acquisitions.HOUSTON--(BUSINESS WIRE)--Oct. 1, 1997--U S Liquids Inc. (AMEX AMEX See: American Stock Exchange :USL (UNIX System Laboratories, Inc.) An AT&T subsidiary formed in 1990, responsible for developing and marketing Unix. In 1993, USL was acquired by Novell and merged into Novell's UNIX Systems Group (USG). See Univel. 1. ) announced today that it has acquired three businesses which, combined, generated revenues of approximately $5.0 million in 1996. The total consideration paid for the three businesses was $7.0 million, consisting of approximately $3.3 million of U S Liquids common stock and $3.7 million cash. Houston Acquisition to Benefit Nonhazardous Commercial Waste Division Among the businesses acquired was Re-Claim Environmental Inc., a Houston-based treater of nonhazardous commercial waste. The acquisition of Re-Claim Environmental Inc. will be accounted for as a pooling-of-interests. Greg Orr, president and chief operation officer of U S Liquids, stated, "The acquisition of Re-Claim Environmental Inc. further solidifies our position as a major provider of services for the treatment and disposal of nonhazardous commercial waste in the Texas market." Acquisition of Louisiana CODE, OF LOUISIANA. In 1822, Peter Derbigny, Edward Livingston, and Moreau Lislet, were selected by the legislature to revise and amend the civil code, and to add to it such laws still in force as were not included therein. Company Permits Entry into New Geographical Market By acquiring Re-Claim Environmental Louisiana LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , U S Liquids has entered the Northern Louisiana nonhazardous commercial waste market. Re-Claim Environmental Louisiana LLC operates a nonhazardous commercial waste treatment facility located at the Port of Shreveport-Bossier on the Red River. This site is accessible by barge barge, large boat, generally flat-bottomed, used for transporting goods. Most barges on inland waterways are towed, but some river barges are self-propelled. There are also sailing barges. from the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east and the Mississippi River Mississippi River River, central U.S. It rises at Lake Itasca in Minnesota and flows south, meeting its major tributaries, the Missouri and the Ohio rivers, about halfway along its journey to the Gulf of Mexico. . Mike Lawlor Michael P. Lawlor is an American politician, criminal justice professor, and lawyer from Connecticut. A Democrat, he is a member of the Connecticut State House of Representatives representing the General Assembly's 99th district, covering East Haven. , U S Liquids' chairman and chief executive officer said, "The acquisition of Re-Claim Environmental Louisiana LLC is a particularly exciting addition to our Nonhazardous Commercial Waste Division. This acquisition provides us entry into a new geographic market and will enable us to provide services to customers located throughout Northern Louisiana." "Tuck-In" Acquisition Closes in Dallas The Company also announced the acquisition of A&B Environmental Solutions, a collector of used cooking oil and other food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. residuals used in the production of the Company's finished products. These materials will be treated and processed at the Company's existing facility in Fort Worth. With completion of these three acquisitions, U S Liquids has increased the number of its permitted nonhazardous commercial waste treatment facilities from five to seven. Mike Lawlor stated, "These acquisitions mark the beginning of our previously announced acquisition strategy which is designed to strengthen our position in existing markets and take the Company into new geographic markets. We are excited about these additions to our Company." U S Liquids Inc. is a leading provider of services for the treatment, processing, recovery and disposal of (i) nonhazardous liquid waste, including nonhazardous commercial waste generated by restaurants, meat processors, other food processors, grocery stores and other generators, and (ii) nonhazardous oilfield waste generated in the exploration for and production of oil and natural gas. CONTACT: U S Liquids, Houston Earl J. Blackwell, 281/272-4507 |
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