News Today
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 7, 1997--
Moretown Landfill Capacity jumps to 350 tons per day
BioSafe International Inc. (NASDAQ:BSFE) announced today that
its subsidiary, Waste Professionals of Vermont Inc. (WPV), has
acquired the permits and commenced operations at the Chittenden
Solid Waste District's former transfer station in the town of
Williston, Vt.
Under the agreement, WPV will lease the transfer station,
located about 30 miles from the company's landfill in Moretown, from
the Chittenden Solid Waste District for a period of 10 years and
will have an option to buy the operation at the end of that period
for a minimal amount.
"This is an important addition to our solid waste operations in
Vermont and creates the second largest solid waste management company
in the state," commented Philip Strauss, BioSafe's chairman,
president and chief executive officer. "The Williston transfer
station complements our existing integrated waste operations and
ensures that we receive a stable, long-term waste flow to our
landfill facility in Moretown. In March, the Chittenden Solid Waste
District awarded BioSafe a $1.3 million, 15-month contract to dispose
of approximately 23,000 tons of sludge from wastewater treatment
plants within the district. The Moretown landfill, located
approximately 30 miles from Burlington and 10 miles from the state's
capitol in Montpelier, serves as a solid foundation from which we can
direct waste streams throughout Vermont. Furthermore, the landfill
and transfer station serve as an attractive position from which we
can densify our market presence by acquiring additional collection
companies and transfer stations."
The internalization of waste from the company's transfer station
in Williston has enabled BioSafe to increase the operating level of
the Moretown landfill, which began accepting waste exactly one year
ago, from approximately 175 tons per day to about 350 tons per day.
This increases the capacity of the landfill to roughly 100,000 tons
per year. In addition, BioSafe's hauling operation (WPV Disposal)
announced today that it had received a maximum 3-year contract with
the Central Vermont Solid Waste District for residential collection
at approximately $750,000 per year. Anticipating the significant
growth in this market, BioSafe filed a permit application in April
with the Vermont Agency of Natural Resources for the next cell, or
cell 2, at the landfill, which will add an estimated additional 1.5
million cubic yards of capacity.
BioSafe International is an innovative solid waste management
company. The company has built a fully-integrated solid waste
management business in Vermont and has entered into a contract to
operate and remodel an existing 30-acre landfill in South Hadley,
Mass. BioSafe has also licensed its proprietary infectious medical
waste disposal technology throughout Europe.
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Certain of the above statements may be forward looking statements
that involve risks and uncertainties. In such instances, actual
results could differ materially as a result of a variety of factors
including competitive developments and other risk factors listed
from time to time in the company's Securities and Exchange
Commission reports.
CONTACT:
BioSafe International
Bob Rivkin, 617/497-4500
or
Burson-Marsteller
Stuart Carlisle, 212/614-4000 |
