Marsulex to acquire Stablex for $73M
TORONTO, ONT-Marsulex, a Toronto-based industrial services company, has agreed to purchase Stablex, a Quebec-based business specializing in inorganic hazardous waste treatment and disposal, for approximately $73 million, excluding acquisition and financing costs. The company expects to complete the transaction in approximately six weeks. Stablex has been operating a facility in Blainville, Quebec, since 1983, using a proprietary technology to treat and stabilize inorganic industrial hazardous wastes and contaminated soils. The Stablex process consists of making contaminants insoluble in the environment by using a chemical treatment followed by stabilization and solidification processes before disposal of the benign product in a dedicated secure placement cell. Marsulex president and CEO Laurie Tugman said the acquisition is an excellent fit with his company's focus on outsourced environmental compliance services, and will broaden both its range of services and customer base. "Stablex is using state-of-the-art technology to provide a critical service to its industrial customers. It has an outstanding record for safe and reliable operations and a high retention rate for customers," he noted. More information is available from Laurie Tugman at Marsulex, 416/496-4157, Web site www.marsulex.com.