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WASTE MANAGEMENT INTERNATIONAL ENTERS SWEDISH HAZARDOUS WASTE INCINERATION MARKET, ACQUIRING 90.1 PERCENT OF SHARES IN SAKAB

 WASTE MANAGEMENT INTERNATIONAL ENTERS SWEDISH HAZARDOUS WASTE
 INCINERATION MARKET, ACQUIRING 90.1 PERCENT OF SHARES IN SAKAB
 OAK BROOK, Ill., Aug. 20 /PRNewswire/ -- Waste Management International plc, a leading provider of waste and environmental management services, and the Swedish government today announced that a contract has been signed and approved by the Swedish government under which a Waste Management subsidiary will acquire a 90.1 percent stake in Svensk Avfallskonvertering AB (SAKAB) for SEK 340 million (34 million pounds) in cash.
 SAKAB, which was state-owned, is Sweden's largest hazardous waste company and provides a variety of waste management services. SAKAB thermally treats approximately 33,000 tons of hazardous waste per year, provides physical/chemical treatment of about 2,500 tons of waste, and disposes of nearly 6,000 tons of material. Further, the company has as yet undeveloped permits for solvent distillation, solvent separation, and pre-treatment of waste oils.
 In commenting on the acquisition, WMI plc Chief Executive Ed Falkman commented: "We are extremely pleased to have the employees of SAKAB join our organization and to broaden our increasing capabilities to provide the full spectrum of state-of-the-art waste management services. The acquisition of SAKAB is an important step in our further diversification of our turnover and service base, both geographically and in types of service provided. We believe the acquisition positions Waste Management International plc, through our Swedish subsidiary Sellbergs, to provide a major leadership role in the continued development of quality hazardous waste management services in Sweden, and in Scandinavia."
 For the calendar year 1991, SAKAB reported turnover of approximately SEK 141 million (14.1 million pounds), net profits before taxes and excluding extraordinary items of SEK 23.5 million (2.35 million pounds) and total assets of SEK 254.6 million (25.5 million pounds).
 Waste Management International plc is a leading provider of a range of solid and hazardous waste management services, including collection, transportation, storage, treatment, recycling, incineration, disposal, waste-to-energy technologies and other environmentally related services.
 The company currently operates in nine European countries: Italy, France, Germany, the United Kingdom, Holland, Spain, Sweden, Denmark and Finland, as well as in Argentina, Australia, New Zealand, Hong Kong, Brunei and in the Middle East.
 Waste Management International plc is a majority owned subsidiary of Waste Management, Inc.
 -0- 8/20/92
 /CONTACT: U.K. analysts, Joe Holsten, 071-493-2554, or press, Bo Gabrielson, 071-493-2554; U.S. analysts, Jim Koenig, 708-572-8822, or press, Bill Plunkett, 708-572-8898, all for Waste Management International/
 (WMX) CO: Waste Management International plc ST: Illinois IN: SU:


SM -- NY046 -- 1696 08/20/92 12:06 EDT
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Publication:PR Newswire
Date:Aug 20, 1992
Words:430
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