Landfill Sold to Allied Waste Brings in $10 Million, Future Royalties

Lynn Schenkman

Boise, Idaho -- American Ecology Corp. has sold the El Centro Municipal and Industrial Waste Landfill in Corpus Christi, Texas, to Allied Waste Industries Inc., Scottsdale, Ariz., for $10 million cash at closing and future volume-based royalty payments. According to American Ecology Corp., the sale should result in a pretax gain on sale of approximately $5 million to be recognized during the first quarter of 2003.