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Synagro Announces Award of First DBOO Heat Drying Facility On the West Coast
ARCHIVED 2002–2016: Originally distributed via the eWire press wire service. Preserved as historical record.
Synagro Announces Award of First DBOO Heat Drying Facility On the West Coast
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FOR IMMEDIATE RELEASE
Synagro Announces Award of First DBOO Heat Drying Facility On the West Coast
TEXAS, HOUSTON, Aug. 8 -/E-Wire/-- Synagro Technologies Inc. (Nasdaq:SYGR), a full service provider of water and wastewater residuals management services, announced today that the Sacramento Regional County Sanitation District ("District") has signed a 20-year contract with Synagro to design, finance, build and operate ("DBOO") a biosolids, dewatering and heat drying/pelletization facility. The facility will process biosolids generated by the District as part of the District's diversified management plan. Synagro expects to generate revenues between $102 and $114 million over the life of the contract.
The public/private partnership created by this contract provides the District and its residents a 20-year recycling solution for their biosolids management needs. Synagro is teamed with Andritz-Ruthner Inc., Black & Veatch Corporation and The Whiting-Turner Contracting Company for the design and construction of the facility at the District's Wastewater Treatment Plant located in Elk Grove, Calif. The facility will employ the state-of-the-art Andritz DDS drying system. Andritz-Ruthner is the industry leader in heat drying/pelletization technology, with over 55 facilities worldwide. Facility design and local planning expertise will be provided by Black & Veatch, and Whiting-Turner will construct the facility.
The facility is expected to be operational in mid-2004 and will process between 7,300 and 10,600 dry tons of biosolids annually. The facility will convert biosolids into a commercial grade, Class A organic fertilizer product that will be marketed by Synagro. At the present time, Synagro markets over 150,000 tons of Class A pelletized biosolids annually worldwide.
Wendell Kido, SRCSD District Manager, explained the benefits of the public-private partnership. "Partnering with Synagro allows the Sanitation District to continue with its environmental commitment to recycling and be involved in the production of the first Class A pelletized biosolids fertilizer on the West Coast, while Synagro concentrates its expertise on producing and developing the market for this relatively new product in the region."
Synagro's Chief Executive Officer, Ross M. Patten, stated, "We are very excited to be part of the District's biosolids management program. This project incorporates the most environmentally and technically advanced processing technology available. We look forward to starting the design, engineering and permitting of the facility this month and becoming a long-term contributing member of the local community. I want to commend Mr. Kido and his professional staff for their leadership position in implementing this benchmark project for California."
Synagro is the largest national company focused on water and wastewater residuals management services in the United States, serving over 1,000 municipal and industrial water and wastewater generators in 35 states and the District of Columbia. The Company offers a range of water and wastewater residuals management services focusing on the beneficial reuse of organic, nonhazardous residuals resulting from the water and wastewater treatment process, including collection and transportation, land application, thermal drying and pelletization, incineration, composting, alkaline stabilization, dewatering, cleanout services, wastewater treatment plant operations and maintenance, product marketing, and related recordkeeping and regulatory reporting services.
This press release contains certain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks, uncertainties or other factors not under the Company's control, which may cause the actual results, performance or achievement of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to (1) the ability to find, timely close, and integrate acquisitions, (2) unseasonable weather, (3) changes in government regulations, and (4) the ability to access debt and equity financing when needed. Other factors are discussed in the Company's periodic filings with the Securities and Exchange Commission
Synagro Technologies Inc.
Synagro Technologies Inc., Houston
Ross M. Patten, 713/369-1700
http://www.synagro.com
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