Envirosafe Services renamed US Ecology Idaho
Jack Lemley, Chairman, President, and CEO of Boise, Idaho based American Ecology Corporation, announced recently-acquired Envirosafe Services of Idaho, Inc. would be renamed US Ecology Idaho, Inc. effective May 1, 2001.
Acquired on February 1, 2001 and located in the southwestern Idaho desert, US Ecology Idaho provides hazardous and PCB waste treatment, storage and disposal services including a patented, U.S. EPA-approved technology to treat certain hazardous wastes generated by steel mills. Use of this technology allows economical disposal of this steel mill waste as non-hazardous industrial waste. The Grand View, Idaho site also accepts naturally occurring radioactive material under a five-year renewable contract with the U.S. Army Corps of Engineers.
Stephen Romano, Vice President for Corporate Development with American Ecology also serves as President of the company's Idaho waste operation. "Transition activities are proceeding smoothly," Romano stated, adding "Today's name change continues our efforts to fully integrate this well established waste treatment, storage and disposal business into the American Ecology family of companies."
A wholly-owned subsidiary of American Ecology Corporation, US Ecology Idaho, Inc. is expected to contribute annual revenue of approximately $12 million and make a significant, accretive contribution to the Company's consolidated earnings.
American Ecology Corporation, through its subsidiaries, provides a variety of radioactive, PCB, hazardous and non-hazardous waste services to commercial and government customers throughout the United States, such as nuclear power plants, medical and academic institutions and petro-chemical facilities. Headquartered in Boise, Idaho, the Company is one of the oldest radioactive and hazardous waste service Companies in the United States.
This press release contains forward-looking statements that are based on our current expectations, beliefs, and assumptions about the industry and markets in which American Ecology Corporation and its subsidiaries operate. Actual results may differ materially from what is expressed herein and no assurance can be given that the acquired assets can achieve the revenue or earnings discussed herein or that the Company will generate future earnings. For information on factors that could cause actual results to differ from expectations, please refer to American Ecology Corporation's Report on Form 10-K filed with the Securities and Exchange Commission and the Company's most recently filed Quarterly Report filed on Form 10-Q with the Securities and Exchange Commission.
Source: American Ecology Corporation
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