According to the Environmental Business Chronicle newsletter, Bennett Environmental Inc. (TSX:BEV), based in Oakville, Ontario, recently closed the transaction to divest Trans-Cycle Industries, Ltd. (TCI) and Material Resource Recovery S.R.B.P. Inc. (MRR) to Aevitas, based in Ayr, Ontario. In addition to the purchase price of $500,000, the company will receive approximately $3.0 million which is currently held by the Ontario Ministry of the Environment in support of the operating permits for TCI and MRR. Bennett Environmental Inc. provides high temperature treatment services for the treatment of contaminated soil.
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