Date: September 10, 2009
Source: Valhi, Inc.
Valhi, Inc. Announces WCS Low-Level Radioactive Waste Disposal License Has Been Signed and Declared Effective
Valhi, Inc. (NYSE: VHI) announced that the Executive Director of the Texas Commission on Environmental Quality has signed and declared effective a license for the near-surface disposal of Class A, B and C low-level radioactive waste ("LLRW") to Waste Control Specialists LLC ("WCS"), a wholly-owned subsidiary of Valhi, following WCS completing its last administrative requirement of acquiring 100% of the mineral rights at its west-Texas facility.
"Since the final LLRW license was granted in January of this year, we have worked diligently to complete all of the necessary requirements so the license could be signed and declared effective," said William J. Lindquist, Chief Executive Officer of WCS. "The process is now complete and we are ready to begin constructing the LLRW disposal facility, after recently completing construction of the byproduct material disposal facility. Following the anticipated opening of our LLRW disposal facility in late 2010, WCS will provide the industry with a 'one-stop shop' for its waste needs by having the broadest range of capabilities of any commercial enterprise in the U.S. for the storage, treatment and permanent disposal of hazardous, toxic, low-level and mixed LLRW and radioactive byproduct material. We believe our Texas-based solution will provide WCS with a significant competitive advantage in this multi-billion dollar industry since the only U.S. commercial facility currently authorized to accept low-level and mixed LLRW is limited to disposing of Class A waste, while WCS will be able to permanently dispose of Class A, B and C LLRW."
Steven L. Watson, President and Chief Executive Officer of Valhi, said "WCS has built significant brand value in the last two years with the licensing and construction of the radioactive byproduct material disposal facility and the issuance of this LLRW disposal license. Valhi expects that with the LLRW disposal license and its other existing permits, WCS will have significant opportunities to fill a void that currently exist due to the uncertainty of commercial and federal LLRW disposal availability in the U.S. The citizens of Andrews and Lea Counties, as well as all of the Permian Basin, have overwhelmingly supported WCS and we look forward to building on that support as WCS significantly grows and expands its business."
The WCS facility in Andrews County, Texas is currently licensed for the processing, storage and disposal of a broad range of hazardous and toxic waste, byproduct material and low-level and mixed LLRW.
Valhi is engaged in the titanium dioxide products, component products (security products, furniture components and performance marine components) and waste management industries.
Statements in this release that are not historical in nature are forward-looking in nature that represent the Company's beliefs and assumptions based on currently available information. In some cases, these forward-looking statements can be identified by the use of words such as "believes," "intends," "may," "should," "could," "anticipates," "expected" or comparable terminology. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, the Company does not know if these expectations will be correct. Forward-looking statements by their nature involve substantial risks and uncertainties that could significantly impact expected results. Actual future results could differ materially from those predicted. Among the factors that could cause the Company's actual future results to differ materially from those described herein are the risks and uncertainties described from time to time in the Company's filings with the Securities and Exchange Commission.