Newalta Income Fund announced on October 3, 2006 that it has entered into an agreement to acquire the hazardous waste and industrial cleaning division of Services Matrec Inc. from TransForce Income Fund for $31.8-million.
These operations provide: collection, treatment and disposal of industrial wastes; soil and water treatment services; and on-site industrial cleaning services. The division includes a network of facilities throughout Quebec, including Chateauguay, Laterriere, St. Bruno, Chicoutimi, Quebec City, Boucherville and Trois-Rivieres.
According to Al Cadotte, president and CEO of Newalta, the recent acquisitions in Quebec and Newfoundland have added 250 experienced people and 12 facilities to the company’s coast-to-coast network. He adds that Newalta will continue to pursue additional opportunities at responsible prices.
Newalta is one of Canada’s largest industrial waste management companies serving the automotive, forestry, manufacturing, mining, oil and gas, petrochemical, pulp and paper, steel and transportation service industries.
For further information, contact Ronald Sifton, Senior Vice President, Finance and Chief Financial Officer, Newalta at 403-806-7020 or visit www.newalta.com