LAIDLAW AND DHEC REACH AGREEMENT
LAIDLAW AND DHEC REACH AGREEMENT BURLINGTON, Ontario, Oct. 6 /CNW/ - Laidlaw Inc.
(NYSE: LDW.A; LDW.B) has announced that its subsidiary, Laidlaw Environmental Services of South Carolina, Inc., and the South Carolina Department of Health and Environmental Control (DHEC) have resolved permit and financial assurance differences relating to the operation of the Pinewood hazardous waste disposal facility.
The agreement confirms that the landfill has capacity to serve Laidlaw's customers for at least twelve years at current utilization rates. Should environmental impairment occur as a result of the operation of the site, Laidlaw is providing a financial assurance package in the amount of $100 million (1992 dollars). This financial assurance package consists of three components: -- the existing state permitted sites fund, -- contribution to a trust fund by the operator of $5 per ton of hazardous waste and $2 per ton of non-hazardous waste, and -- the balance to be provided by the parent's corporate guarantee. This financial assurance package is in addition to the existing $30 million coverage for third party liability and the required financial assurance for closure and post-closure care of the facility. The agreement also extends the post-closure care period for the facility to 100 years. -0- 10/6/92 /CONTACT: Paul Van Damme of Laidlaw, 416-336-1800/ (LDW) CO: Laidlaw Inc.; Laidlaw Environmental Services of South Carolina; South Carolina Department of Health and Environmental Control ST: Ontario, South Carolina IN: SU:
SB -- NY066 -- 7146 10/06/92 14:20 EDT
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|Date:||Oct 6, 1992|
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