EnergySolutions to acquire Waste Control Specialists in cash, stock deal

EnergySolutions said on Thursday that it has agreed to acquire Waste Control Specialists (WCS) in a cash and stock deal.

"Combining our capabilities will bring improved operational efficiencies and allow us to deliver a safe and seamless supply chain that better serves the needs of commercial and government customers," David Lockwood, president and CEO of EnergySolutions, said. "In addition to the ongoing utilization of all the acquired assets, we intend to continue to seek expansion opportunities in the nuclear services area.”

WCS operates a waste-disposal facility in Andrews County, Texas, and is a subsidiary of Valhi, Inc., until the acquisition agreement is finalized. The Texas facility specializes in the storage, treatment and disposal of low-level radioactive and other hazardous waste materials.

Through this agreement, Salt Lake City-based EnergySolutions will pay $270 million in cash and $20 million in Series A preferred stock. EnergySolutions also will assume $77 million in WCS debt.

Both companies will continue operations as separate entities until the sale is finalized. EnergySolutions operates in multiple realms of the nuclear generation industry, including nuclear operations, site closure, decontamination, decommissioning, research and the management and treatment of nuclear waste, among other services throughout the fuel cycle.

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