The acquisition will include Stablex’s waste processing and disposal facility in Blainville, Quebec, that principally serves the eastern Canadian and north-eastern US industrial markets utilizing proprietary technology to treat a wide range of hazardous waste.
Through this acquisition, US Ecology will expand its waste management and recycling services for commercial and government entities, such as refineries and chemical production facilities, manufacturers, electric utilities, academic institutions and waste brokers in Canada.
US Ecology has funded the acquisition with cash on hand and borrowings under a new C$75m reducing revolving line of credit facility with Wells Fargo National Association as part of an aggregate C$95m credit agreement signed with Wells Fargo on 29 October 2010.
