American Ecology Corporation has reported first quarter 2001 earnings of $1.48 million, compared to $1.38 million a year ago. The company says that the increase was driven by the acquisition of Envirosafe Services of Idaho in February.
American Ecology acquired Envirosafe in a stock purchase from Envirosource and renamed it US Ecology Idaho on May 1. Both American Ecology and its new subsidiary have hazardous waste treatment and disposal facilities. US Ecology, a subsidiary of American Ecology, also operates a low-level radwaste disposal site in Washington state for the northwest Compact. The former Envirosafe has also disposed of uranium mill tailings at its Idaho hazardous waste disposal facility under a contract with the US Army Corps of Engineers. The Corps oversees a cleanup operation called the Formerly Utilized Sites Remedial Action Program, which includes the tailings.
US Ecology Idaho is expected to add annual revenue of $12 million. American Ecology reported $12.9 million in revenues in the first quarter of 2001, compared to $9.3 million a year ago.