Transaction to Enhance Competitive Positioning in Ontario and Increase Reach of Michigan-area Operations
Boise, Idaho – May 3, 2016 – US Ecology, Inc. (NASDAQ-GS: ECOL) (“the Company”) today announced that it has acquired all of the stock of Environmental Service Inc., (“ESI”), an environmental services company based in Tilbury, Ontario, Canada. The new US Ecology Tilbury facility will complement our existing fixed facilities in Michigan and Quebec and allow us to better provide a full range of environmental, field, and industrial services to customers in the region. Terms of the transaction were not disclosed.
ESI, located approximately 45 miles east of Detroit, is focused primarily on hazardous and non-hazardous transportation and disposal, hazardous and non-hazardous waste treatment, industrial services, confined space rescue and emergency response work throughout Ontario. Current capabilities include waste consolidation, chemical treatment, solidification, blending and bulking of hazardous and non-hazardous waste and biological treatment of impacted soils.
“The addition of ESI to US Ecology’s family of permitted waste treatment facilities will enhance our geographic reach in the Canadian market to better meet the needs of our combined customers in the region, while complementing our treatment and disposal assets in Michigan and Québec,” commented Jeff Feeler, US Ecology’s Chairman and CEO. “Our expanding commitment to the Ontario market should provide growth opportunities across our Environmental Services, and Field and Industrial Services businesses.”
The ESI transaction, which closed on May 2, will be reported as part of our Environmental Services segment. Its financial contribution to the Company is not expected to have a material impact on US Ecology’s previously provided 2016 earnings guidance which was reaffirmed on April 28, 2016 in conjunction with the Company First Quarter Earnings.
About US Ecology, Inc.
US Ecology, Inc. is a leading North American provider of environmental services to commercial and government entities. The Company addresses the complex waste management needs of its customers, offering treatment, disposal and recycling of hazardous, non-hazardous and radioactive waste, as well as a wide range of complementary field and industrial services. US Ecology’s focus on safety, environmental compliance, and best–in-class customer service enables us to effectively meet the needs of our customers and to build long-lasting relationships. Headquartered in Boise, Idaho, with operations in the United States, Canada and Mexico, the Company has been protecting the environment since 1952. For more information, visit www.usecology.com.
Forward-looking statements are only predictions and are not guarantees of performance. These statements are based on management's beliefs and assumptions, which in turn are based on currently available information. Important assumptions include, among others, those regarding demand for Company services, expansion of service offerings geographically or through new or expanded service lines, the timing and cost of planned capital expenditures, competitive conditions and general economic conditions. These assumptions could prove inaccurate. 2 Forward-looking statements also involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Many of these factors are beyond our ability to control or predict. Such factors include the replacement of non-recurring event clean-up projects, a loss of a major customer, our ability to permit and contract for timely construction of new or expanded disposal cells, our ability to renew our operating permits or lease agreements with regulatory bodies, loss of key personnel, compliance with and changes to applicable laws, rules, or regulations, access to insurance, surety bonds and other financial assurances, a deterioration in our labor relations or labor disputes, our ability to perform under required contracts, failure to realize anticipated benefits and operational performance from acquired operations, adverse economic or market conditions, government funding or competitive pressures, incidents or adverse weather conditions that could limit or suspend specific operations, access to cost effective transportation services, fluctuations in foreign currency markets, lawsuits, our willingness or ability to pay dividends, implementation of new technologies, limitations on our available cash flow as a result of our indebtedness and our ability to effectively execute our acquisition strategy and integrate future acquisitions. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission (the “SEC”), we are under no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on our forward-looking statements. Although we believe that the expectations reflected in forwardlooking statements are reasonable, we cannot guarantee future results or performance. Before you invest in our common stock, you should be aware that the occurrence of the events described in the "Risk Factors" section in this report could harm our business, prospects, operating results, and financial condition.