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CHAMBERS AGREES TO SELL N.J. TRANSFER STATIONS AND EXTEND SERVICES

 PITTSBURGH, Sept. 23 /PRNewswire/ -- Chambers Development Company, Inc. (AMEX: CDVA, CDVB) today announced that it has agreed to sell, subject to approval by the New Jersey Department of Environmental Protection and Energy (DEPE), its two transfer stations in Morris County, N.J., to the Morris County Municipal Authority for $9.5 million.
 Chambers anticipates completing this transaction by Dec. 31, 1993.
 As part of the agreement, Chambers will operate the transfer stations in Mount Olive and Parsippany and provide transportation services until the county's long-term solid waste system is in operation or Dec. 31, 1996. Morris County has the option to extend the agreement for two six-month periods beyond 1996, if its long-term solid waste system is not yet operational. Previously, Chambers had been scheduled to cease its operations in Morris County on Dec. 31, 1994.
 The extension of Chambers' services beyond 1994 will enable the company to seek from the New Jersey DEPE a reduction in the rates for municipal, commercial and industrial waste under its tariff for 1994.
 Charles Peterson, general manager of Chambers' New Jersey operations, said, "Morris County and its communities have been long and valued customers. The extension of our services for an additional two years will provide benefits to both parties."
 Chambers Development Company, Inc., headquartered in Pittsburgh, is a leading environmental services firm involved in landfill, transfer station and recycling operations, as well as the collection, transportation and disposal of residential, commercial, non-hazardous industrial and medical wastes.
 -0- 9/23/93
 /CONTACT: media, Jim Leonard, 412-244-7560, or financial, Lew Nevins, 412-244-6195, of Chambers Development/
 (CDV)


CO: Chambers Development Company, Inc.; Morris County Municipal
 Authority ST: Pennsylvania, New Jersey IN: ENV SU: TNM


CD -- PG004 -- 5053 09/23/93 08:57 EDT
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Publication:PR Newswire
Date:Sep 23, 1993
Words:288
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