EnergySolutions Buys Waste Control Specialists

Nuclear Waste Firms Complete $270m Acquisition in US

Salt Lake City, Utah based nuclear waste processing, transporting and recycling firm, EnergySolutions, Inc. has signed a definitive agreement to acquire Dallas based Waste Control Specialists which operates a 1338 acre radioactive waste disposal facility in Texas that features a 7 ft thick, steel-reinforced concrete liner system.

From
Nuclear Radioactive Markets & Policy

Salt Lake City, Utah based nuclear waste processing, transporting and recycling firm, EnergySolutions, Inc. has signed a definitive agreement to acquire Dallas based Waste Control Specialists LLC (WCS), which operates a 1338 acre radioactive waste disposal facility on a 14,900-acre site in western Andrews County, Texas, that features a 7 ft (2 metre) thick, steel-reinforced concrete liner system (pictured).

EnergySolutioons said that the deal will see it pay Valhi, Inc. (NYSE: VHI), of which WCS is a wholly owned subsidiary $270 million in cash and $20 million face amount in Series A Preferred Stock. It will also assume approximately $77 million of WCS debt.

Additionally, the company added that it will assume all financial assurance obligations related to the WCS business, but that completion of the sale is subject to certain customary closing conditions outlined in the transaction agreement.

“Combining our capabilities will bring improved operational efficiencies and allow us to deliver a safe and seamless supply chain that better serves the needs of commercial and government customers,” commented David Lockwood president and chief executive officer of EnergySolutions.

“In addition to the ongoing utilisation of all the acquired assets, we intend to continue to seek expansion opportunities in the nuclear services area, he added. “EnergySolutions and WCS will continue to operate as independent companies until completion of the sale.”


Steven L. Watson, chairman of the Board and chief executive officer of Valhi commented: "The sale of Waste Control Specialists to Rockwell will expand the range of services available to its customers, while providing Valhi the opportunity to deploy the cash proceeds from the sale to take advantage of growth opportunities in its remaining businesses. The continuing equity interest in Rockwell, the parent company of the combined businesses, will allow Valhi to participate in the benefits of the combination."


Read More

EU Threatens France with Legal Action over Nuclear Waste
The European Commission has requested France to fully transpose the Radioactive Waste Directive as part of its monthly package of infringement decisions, where the it pursues legal action against Member States for failing to comply with their obligations under EU law.


New DOE Nuclear Waste Strategy 'Flawed'
U.S. think tank, The Heritage Foundation has criticised the DOE's recently published 'Strategy for the Management and Disposal of Used Nuclear Fuel and High-level Radioactive Waste'.


Nuclear waste partnership signed for Hanford continued decommissioning, US
Nuclear energy company Areva has partnered with nuclear and hazardous waste management company Kurion for the decommissioning and remediation of the U.S. Department of Energy (DOE) complex...