TRC Companies, Inc.
(NYSE: TRR) today announced that it has executed an Exit Strategy® based, risk-sharing transaction with a Midwestern municipal corporation representing a number of cities for the clean-up and closure of two solid waste landfills. The contract is estimated at $5.2 million.
Each of the involved municipalities has a shared responsibility to assure the proper clean-up and closure of the landfills. Through the Exit Strategy program, TRC has worked with the client to manage the client’s risk to achieve project completion, aligning interest with each municipality’s business goals.
“TRC is pleased to be part of the cleanup and closure of these landfills,” said Chris Vincze, Chairman and Chief Executive Officer. “As a company, we are not only committed to helping our clients manage their environmental risks, but we are also dedicated to improving the environment for the communities in which we and our clients live and work. Our Exit Strategy program accomplishes both of these goals to deliver results our clients can rely on.”
To address the cleanup of the landfills, TRC has proposed a green remediation methodology, known as phytoremediation, which uses trees as the conduit to treat and mitigate environmental impacts. As part of its focus on Green Remediation strategies, TRC has developed a core competency in the broad application of phytoremediation, successfully installing many thousand treewells in more than a dozen sites across the United States for the remediation of a wide variety of groundwater contaminants. This technology is being embraced by regulators across the country as a superior and greener remediation strategy and TRC is committed to applying it where feasible.
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
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
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 its 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, 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, 2009, 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.