Wednesday November 25, 2:01 pm Eastern Time
ATG expands radioactive waste
business
FREMONT, Calif., Nov 25 (Reuters) - ATG Inc has expanded
its commercial LLRW (low-level radioactive waste) market
position with the acquisition of certain wet waste and resin processing assets, technologies and
business lines from the trustee for Molten Metal Technology Inc, the company said Wednesday.
The acquisition, which includes Molten Metal's Catalytic Extraction Process and Advanced Water
Processing, significantly increases ATG's ratio of commercial to government revenues, placing
company personnel at nearly two dozen nuclear reactor sites, the company statement continued.
''We are well on our way to becoming the nation's leading low-level radioactive waste processor,''
said Doreen Chiu, its chief executive officer.
The purchase price includes payment of $10.5 million in cash, the assumption of certain liabilities
and future payments related principally to resin processing earnings, ATG said.
It said the business lines acquired currently generate about $20 million in annual revenues and are
anticipated to grow at a 30 percent rate during 1999, when they are expected to generate over
$25 million in revenues.
ATG had first half revenues of $12.3 million, nearly double the $6.3 million reported for the first
half of 1997.
''The business assets and contracts we are acquiring will strengthen our commercial LLRW
(low-level radioactive waste) market position and improve our services through a licensed facility
strategically located among a large concentration of East Coast customers,'' Chiu said.
tracts and teaming relationships that are part of the business acquired provide new international
customers and exciting new opportunities in both Asia and Europe."
Bill Hewitt, president of explained: "This acquisition is fully consistent with our corporate strategic
growth initiatives.
''The new contracts acquired increase our overall nuclear utility customer access to about 80
percent of the U.S. nuclear power reactors,'' ATG Waste Management Services President Bill
Hewitt said.
ATG said it was joined in the transaction by CNT Materials LLC, a new company that will
develop intellectual property also acquired from Molten Metal (OTC BB:MLTNQ - news), which
was delisted by Nasdaq in March after having its U.S. Energy Department funding cut in late
1996.
CNT Materials will own 10 percent of the resin processing business using the Catalytic Extraction
Process. As part of the transaction, ATG acquired certain rights with respect to future intellectual
property developments of CNT Materials.
More Quotes
and News:
ATG Inc (Nasdaq:ATGC - news)
Molten Metal Technology Inc (OTC BB:MLTNQ - news)
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