From Deseret News archives:
Envirocare sold
Owner enters agreement with N.Y., Utah firms
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The Creamer in Creamer Investments is Steve Creamer, a Salt Lake man whose projects in Utah go back at least 20 years, including construction proposals involving the Burr Trail near Capitol Reef National Park and a Book Cliffs highway. Creamer said that when the time comes, "I'll be excited to tell you our story" about the Envirocare purchase.
"We think it'll be a fun opportunity."
Reached by telephone at his business, Western Pacific Group, 136 S. Main, he said after the sale of ECDC, "we bought a company from Laidlaw called JTM Industries."
That company was used to create ISG Resources, which consolidated the fly ash industry in America, he said. This is the recycling of fly ash from coal-fired power plants, material used as a replacement for Portland cement and concrete, he said.
They consolidated nine companies and handled environmental aspects of 165 power plants in 37 states, Creamer said. The company was the largest recycler of coal combustion products in America, recycling about 8 million tons a year, Creamer said.
Creamer said after ISG Resources was sold to Headwaters he stayed for another year during its transition, "and I've been just looking for something since then" to do, he added.
"And this is it."
Charles Judd, who was terminated as president of Envirocare in January 2002, said rumors had circulated in the industry for about six months that Envirocare might be sold. Judd himself hopes to operate a radioactive waste disposal facility near Envirocare, Cedar Mountain Environmental.
"It's been a possibility," he said. "Now it looks like it's (the sale) just come to a fruition. It's something of a surprise."
He does not believe Envirocare was under any financial stress to cause a sale. "I think the company is just doing fine," he said. The time must have seemed right for a sale, he said.
"Obviously, there's a strong marketplace." There's a lot of profit potential in storing radioactive waste, he added. He believes there is plenty of opportunity for two disposal operations in the vicinity.
Referring to the Envirocare sale, Judd said, "Sounds like both sides are happy with it."
Envirocare and Cedar Mountain are in litigation, he said. "I'm hopeful we can have a better relation with the other folks when they come on board."
E-mail: bau@desnews.com
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