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TheStreet Open House

Heckmann Corporation And Power Fuels To Merge Creating A Leading Environmental Services Company Focused On Energy And Industrial End-Markets

Stock quotes in this article: HEK

“Just three years ago, in the Summer of 2009, we set out to build the largest environmental services company in the United States, operating in a completely new market segment. We are well down that path, and one billion dollars in revenue is within our reach,” said Mr. Richard J. Heckmann, Chairman and Chief Executive Officer of Heckmann Corporation. “Producers in the U.S. shale basins are extremely focused on environmental solutions and looking for what we offer – a large nationwide company with dedicated services to handle their environmental needs. Our multi-basin presence allows us to migrate and expand with our customers as they further develop their shale assets. As their results show, the Power Fuels team is comprised of top-tier operators, and they will significantly complement our operating team. Together, we have constructed a nationwide footprint with approximately 3,000 employees and an expanding environmental services offering. We are the only company that we know of offering all of the above. In addition, our proprietary paperless tracking, billing and regulatory reporting capabilities, along with our access to the latest treatment technologies, sets us apart from others entering this new segment.”

Mr. Heckmann continued, “In addition, our earlier acquisition of Thermo Fluids and its recycling expertise now becomes a critical element in leveraging our comprehensive environmental solutions services. We will not only manage all facets of water transport, re-use, treatment and disposal, but also provide recycling services including closed-loop solid waste management, oil reclamation, antifreeze collection and re-manufacturing, oil filter collection and recycling, and tank bottom and oily waste treatment for a diverse customer base that seeks to consolidate their supplier base. Our executives and managers are some of the most experienced in the environmental business and understand the issues around the recycling, treatment, movement and disposal of fluids connected with domestic energy. We believe we have built a truly unique and expansive full-service environmental services business and have now added significant scale and operating experience.”

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