Marsulex completes Stablex acquisition
TORONTO, ONT-Marsulex has completed its acquisition of Stablex, the Quebec-based company specializing in inorganic hazardous waste treatment and disposal. Stablex uses a unique process to treat and stabilize inorganic industrial hazardous wastes and contaminated soils. Chemical treatment is followed by stabilization and solidification stages prior to final disposal of the treated material in a secure placement cell. Marsulex also reported that it has arranged $80 million in long-term financing, $70 million of which will be used immediately to fund the $71.2 million acquisition, before transaction and financing costs. The balance of the loan will be drawn as needed to pay acquisition and financing costs, and for general corporate purposes. Toronto-based Marsulex is an industrial services company focusing on outsourced environmental compliance services. More information is available from Laurie Tugman, president and CEO, 416/496-4157, Web site www.marsulex.com.