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[STK]
[IN] UTI
[SU] AVO POL LBR SVY ENI
-- WITH PHOTO -- TO ENVIRONMENTAL, LABOR, AND NATIONAL EDITORS:
New Teamsters Report Details Mounting Liabilities for One of Republic
Services' Nuclear Waste Landfills
WASHINGTON, April 23, 2014 /PRNewswire-USNewswire/ -- Today, the
Teamsters released a report that details the escalating costs to the
public and investors for Republic Services, Inc's [NYSE: RSG]
mismanagement of its Bridgeton/West Lake Superfund landfill in
Bridgeton, Mo. The nuclear waste remediation has already cost Republic
Services $219 million and may cost much more if the Army Corps of
Engineers takes over the site.
According to the report, "Republic Services Toxic Investments:
Liabilities Mount at Nuclear Waste Landfill," the Bridgeton/West Lake
landfill contains 8,700 tons of World War II-era radioactive waste,
and an active underground fire. Elected Missouri officials, community
groups, environmental activists, and labor organizations are
advocating for the U.S. Army Corps of Engineers to implement the
remediation of the nuclear waste and charge Republic for the cost of
the cleanup. The U.S. Environmental Protection Agency (EPA) is
contracting with the Army Corps of Engineers to construct a barrier
between the underground fire and the nuclear waste.
Republic attempted a "series of corrective actions" that failed to
solve the problems and was slow to alert investors about the mounting
liabilities in Bridgeton. Just last week, Republic Services announced
a preliminary settlement of more than $6.8 million to settle a 2013
federal class action lawsuit filed by residents enduring foul odors
from the landfill. Another lawsuit was recently filed alleging that
the radiation has spread to nearby properties and is seeking class
action status.
Republic's 2013 annual report indicates it has spent $219 million on
remediation charges, with estimated remaining liabilities of $342
million. If the Army Corps of Engineers takes over the remediation of
the nuclear waste, it could dramatically increase remediation costs
for Republic.
The report details the timeline of events, regulatory agencies
involved, and key developments that could drastically alter the future
remediation efforts and raise the cost to Republic Services.
"Today's report highlights how Republic is risking investors' money
and the public's safety by mismanaging the clean-up in Bridgeton,
Missouri," said Robert Morales, Director of the Teamsters Solid Waste,
Recycling and Related Industries Division. "The report raises a
question that we all should be asking Republic - is Bridgeton just the
tip of the toxic landfill iceberg?"
Republic Services investors can ask this question and more on
Thursday, April 24, 2014 at 5:00 p.m. ET during the company's first
quarter investor conference call. The call can be accessed by logging
onto the Republic Services' Investor Relations page on
www.republicservices.com or by dialing (800) 369-3117 or (210)
234-0084, passcode "Republic Services."
The International Brotherhood of Teamsters was founded in 1903 and
represents more than 1.4 million hardworking men and women in the
United States, Canada and Puerto Rico. Visit
http://www.pickupthegarbage.com, "like" us on Facebook at
https://www.facebook.com/RepublicServicesTeamsters or follow us on
Twitter @RepubTeamsters for more information.
Logo - http://photos.prnewswire.com/prnh/20100127/IBTLOGO
SOURCE International Brotherhood of Teamsters
-0- 04/23/2014
/CONTACT: Galen Munroe, (202) 624-6911, gmunroe@teamster.org
/Photo: http://photos.prnewswire.com/prnh/20100127/IBTLOGO
PRN Photo Desk, photodesk@prnewswire.com
/Web Site: http://www.teamster.org
CO: International Brotherhood of Teamsters
ST: District of Columbia
IN: UTI
SU: AVO POL LBR SVY ENI
PRN
-- DC11007 --
0000 04/23/2014 14:40:00 EDT http://www.prnewswire.com
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