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U.S. Ecology continues North America expansion

The Boise-based radioactive and hazardous waste company U.S. Ecology is buying a Canadian waste company with 150 workers and revenues of $37.4 million as it continues to increase its geographic reach.
U.S. Ecology signed the purchase agreement Sept. 13 to buy Stablex Canada, Inc. for $77.8 million. The transaction is expected to close Oct. 31, a spokeswoman said.
Stablex operates a hazardous waste processing and disposal facility in Blainville, Québec, about 30 miles northwest of Montreal. The facility has been in continuous use since 1983 and is served by rail.
The acquisition will help US Ecology serve customers on the East Coast, said Jeff Feeler, vice president and chief financial officer.
“The key aspect of this acquisition is it gives us a geographic footprint on the eastern side of North America,” Feeler said Sept. 14. “A lot of the cleanup efforts in the United States happen to be in that market.
The Stablex facility is about 400 miles north of the New York and New Jersey area.
“The geographic proximity gives us an opportunity to more effectively compete for those opportunities back there,” Feeler said. “There are over 2,000 miles separating our Grand View, Idaho facility and, say, the New York, New Jersey area.”
In late August, U.S. Ecology agreed to buy a Siemens Water Technologies Corp. plant in Vernon, Calif. For $8.65 million cash. The deal is expected to close by the end of the year.
US Ecology employs 36 people at its corporate office in Boise and 64 at a waste disposal site in Grand View. Feeler said the planned acquisitions will likely change employment in Idaho very little.
The company provides waste management and recycling services for radioactive, hazardous, PCB and non-hazardous industrial waste from commercial and government entities such as refineries and chemical production facilities, manufacturers, electric utilities, steel mills, medical and academic institutions and waste brokers.
US Ecology was previously known as American Ecology Corp. Of the 22 permitted hazardous waste disposal sites in North America, US Ecology now owns three in Grand View, Nevada, and Texas.
Feeler said the company might acquire more waste sites if they become available.
“Most of them are controlled by larger companies,” he said. “If they become available for sale, it would be something we’d look at, but typically they’re not on the market.”

About Anne Wallace Allen

Anne Wallace Allen is the editor of the Idaho Business Review.


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