Weekly News Bulletin: Oct. 3-9, 2002


Xtreme Plans To Take Technologies To Brazil

Xtreme Companies (OTCBB: XTRE) is currently in discussions with privately-held Grumann Sudamerickanische S.A. of Sao Paulo, Brazil to provide proposals for its Waste Renewal Systems subsidiary's patented clean thermo-reduction heat absorption process. In the initial project for Caracas, Venezuela, Grumann is developing a solid waste treatment facility concept to generate electricity at a state-owned facility. Part of the RFP is a waste-to-energy component that Waste Renewal Systems management believes is particularly suited for its proprietary MSW removal and conversion system...Read More »



Supreme Court Rejects Fairness Challenge In Asbestos Trial

The U.S. Supreme Court has rejected a constitutional challenge by companies arguing that a massive West Virginia asbestos trial violates fundamental fairness. Without comment, the justices declined to hear the appeal by oil giant Exxon Mobil (NYSE:XOM) and industrial conglomerate Honeywell International (NYSE:HON) claiming the plaintiffs' cases were so dissimilar that consolidating them violates their due process rights. The companies challenged the single mass trial in which about 8,000 plaintiffs who claim exposure to asbestos initially sued about 250 defendants, including various groups of employers, building owners, manufacturers and insurers. But by the time the trial got under way during the week of Sept. 23, all but about four of the defendants had reached last-minute, out-of-court settlements with the plaintiffs. Honeywell was among the companies reaching a settlement. The only remaining defendants were Exxon Mobil, Dow Chemical Co.'s (NYSE: DOW) Union Carbide unit, Amchem Inc. and John Crane...Read More »



Pennsylvania Reaches 35 Percent Recycling Mark

Pennsylvania now recycles at least 35 percent of its municipal waste, a goal the state had hoped to meet by January 2003. Pennsylvania now has the largest curbside and drop off recycling program in the United States, serving more than 10 million people in 1,500 communities, half of which recycle voluntarily. The state noted that business and industry have recycled or eliminated more than 139 million tons of waste since 1997, and more than 23 million tires have been reclaimed. The state is providing more than $134 million in grants to set up recycling programs and $78.1 million to reward communities for every ton of material they collect. Recycling in the state now employs 81,000 people and contributes $23 billion a year to Pennsylvania's economy...Read More »



Safety-Kleen Completes Asset Sale

Safety-Kleen Corp. has completed an asset sale of one of its units, valued at $12.6 million. Safety-Kleen subsidiary 3E Company Environmental, Ecological and Engineering sold all of its assets to the newly formed 3E Company Acquisition Corp. Another unit, Safety-Kleen Systems Inc., completed the acquisition of 24.22% of 3E stock for a total of $625,0000, making it the sole owner of 3E stock. 3E provides hazardous materials information management and emergency response services for environmental health and safety managers. Prior to the sale of the company's chemicals services unit in September, Safety-Kleen and its non-bankrupt affiliates were one of the largest hazardous and industrial waste services enterprises in North America. The Columbia, S.C., company filed for Chapter 11 protection on June 9, 2000, listing assets of $4.45 billion and liabilities of $3.14 billion...Read More »



Court Rules Against Nebraska In Low-Level Landfill Lawsuit

U.S. District Court Judge Richard G. Kopf has entered judgment in favor of the Central Interstate Low-Level Radioactive Waste Commission against the state of Nebraska for $151,408,240, plus post-judgment interest in a lawsuit involving American Ecology subsidiary US Ecology, Inc. and three electric utility companies. The court found that Nebraska breached its good faith obligation to the CIC when processing a license application for a proposed low-level radioactive waste disposal facility in Nebraska. US Ecology submitted the license application as the CIC's contractor and developer...Read More »



Hi-Rise Purchases Solid Waste Division

Hi-Rise Recycling Companies has announced its purchase of the Solid Waste Equipment Division from Hi-Rise Recycling Systems, Inc. Hi-Rise Recycling Systems filed for Chapter 11 status in February 2002 in order to implement a pre-negotiated restructuring plan. As part of the restructuring plan, the Solid Waste Equipment Division was sold for $35 million in cash plus the assumption of specified company assets, liabilities and contracts to Donco Holding Company, a private investment firm...Read More »



Ecology & Environment Announces 2002 Results

Ecology and Environment, Inc. (Amex: EEI) has announced results for the year ended July 31, 2002. Net revenues for the fiscal year ended July 31, 2002 were $74.3 million, up from the $73.4 million reported in fiscal year 2001. Net income for fiscal year 2002 was $1,409,000 or $.35 per share, down 26% from the $1,895,000 or $.46 per share reported in the prior year. Company officials attribute the increase in net revenues for fiscal year 2002 to the company's new Saudi Arabia and Kuwait contracts, which were signed during the first quarter and second quarter of fiscal year 2002...Read More »



Congressman Blasts Environmental Enforcement Drop

The Bush EPA's environmental enforcement record over its first 14 months reveals an 80% drop in penalties and remedies recovered and a 40% to 50% drop in EPA administrative actions compared with the final 13.5 months of the Clinton Administration, according to a recent report by Representative Ed Markey (D-MA). The average settling costs of the Bush EPA's administrative actions also declined compared with the Clinton EPA's costs, by 63% over the same periods, Markey's report shows. "I am concerned that the dramatic reduction in the numbers of and settlements for EPA administrative actions taken during the Bush Administration could lead polluting companies to conclude that it pays to pollute, and that there is no incentive to stop," Markey declared...Read More »


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