VALHI, INC. COMMENTS ON DISTRICT COURT DECISION TO ENJOIN THE SALE OF WASTE CONTROL SPECIALISTS TO ENERGYSOLUTIONS
June 21 2017 - 3:11PM
DALLAS, TEXAS . . . June 21, 2017 . . . On June
21, 2017, the U.S. District Court for the District of Delaware
issued an order enjoining the sale of Waste Control Specialists
(WCS), a wholly owned subsidiary of Valhi, Inc. (NYSE: VHI), to
EnergySolutions. Valhi disagrees with
the Court's decision, and the parties are evaluating their rights
to appeal to the Third Circuit Court of Appeals.
"WCS has built the nation's state-of-the-art
facility for low level radioactive waste disposal, and the
acquisition will protect desperately needed American jobs and
innovation and ensure the continued operation of this facility,
which is needed for the disposal of Class B and C low level
radioactive waste. The DOJ investigation and litigation has
taken over 18 months at great expense to WCS, and WCS must now
determine whether to appeal the trial court's decision and further
prolong the process and associated expense," said Rod Baltzer,
President and CEO of WCS.
"WCS presented overwhelming evidence in favor of
allowing the transaction to proceed to closing. We are very
disappointed with the decision," said Van Beckwith, the lead trial
attorney for WCS and chair of Baker Botts LLP's litigation
department.
Valhi, Inc. is engaged in the titanium dioxide
products, component products (security products and recreational
marine components), waste management and real estate management and
development industries.
* * * * *
SOURCE: Valhi, Inc.
CONTACT: Janet G. Keckeisen, Vice President - Corporate
Strategy and Investor Relations (972) 233-1700
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Valhi, Inc. via Globenewswire
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