Press Release Source: TRC Companies, Inc. On Monday August 22, 2011, 9:00 am EDT
LOWELL, MA–(Marketwire -08/22/11)- TRC Companies, Inc. (NYSE: TRR – News) today announced that it has executed a second Exit Strategy® based, risk-sharing transaction with a Midwestern municipal corporation representing a number of cities for the cleanup of multiple solid waste landfills. The contract value is estimated at $ 10.8 million.
TRC began working with the client in 2010 to manage their environmental risk and properly cleanup two landfills in accordance with regulatory requirements. Through this second Exit Strategy transaction, TRC will continue delivering consultative risk management services to achieve project completion at two additional landfills.
“TRC is proud to continue and expand this valued client relationship,” said Chris Vincze, Chairman and Chief Executive Officer. “As a company, we are committed to providing our clients both the strategic advice and remedial excellence necessary to solve their unique environmental and regulatory challenges. Our Exit Strategy program accomplishes both of these goals and delivers results our clients can rely on.”
TRC has a core competency in the remediation and resolution of landfill and other cleanup liabilities. The Company’s landfill services program offers an unprecedented range of cleanup strategies as well as national, regional and local regulatory relationships, allowing TRC to create site and client-specific remedial designs that efficiently and cost-effectively satisfy regulatory obligations.
A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC is a national engineering, consulting, and construction management firm that provides integrated services to the energy, environmental, and infrastructure markets. TRC serves a broad range of clients in government and industry, implementing complex projects from initial concept to delivery and operation. TRC delivers results that enable clients to achieve success in a complex and changing world. For more information, visit TRC’s website at www.TRCsolutions.com.
Certain statements in this press release may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by forward-looking words such as “may,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” or other words of similar import. You should consider statements that contain these words carefully because they discuss TRC’s future expectations, contain projections of the Company’s future results of operations or of its financial condition, or state other “forward-looking” information. TRC believes that it is important to communicate its future expectations to its investors. However, there may be events in the future that the Company is not able to accurately predict or control and that may cause its actual results to differ materially from the expectations described in its forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, and actual results may differ materially from those discussed as a result of various factors, including, but not limited to, the availability and adequacy of insurance; the uncertainty of our operational and growth strategies; circumstances which could create large cash outflows, such as contract losses, litigation, uncollectible receivables and income tax assessments, including potential payments related to TRC’s ongoing IRS audit and Houston lease litigation, if not resolved successfully; regulatory uncertainty; the availability of funding for government projects; the level of demand for TRC’s services; product acceptance; industry-wide competitive factors; the ability to continue to attract and retain highly skilled and qualified personnel; and general political or economic conditions. Furthermore, market trends are subject to changes, which could adversely affect future results. See additional discussion in TRC’s Annual Report on Form 10-K for the fiscal year ended June 30, 2010, Quarterly Reports on Form 10-Q, and other factors detailed from time to time in the Company’s other filings with the Securities and Exchange Commission.
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