HEADWATERS INC N E W S B U L L E T I N
FROM:
RE: Headwaters Incorporated
10701 S. River Front Parkway, Suite 300
South Jordan, UT 84095
Phone: (801) 984-9400
NYSE: HW
FOR FURTHER INFORMATION
AT THE COMPANY:
Sharon Madden
Vice President of Investor Relations
(801) 984-9400
ANALYST CONTACT:
Tricia Ross
Financial Profiles
(310) 622-8226
FOR IMMEDIATE RELEASE HEADWATERS INCORPORATED APPLAUDS EPA'S FINAL COAL ASH RULE SOUTH JORDAN, UTAH, DECEMBER 19, 2014 (NYSE: HW) HEADWATERS INCORPORATED, the nation's largest manager and marketer of coal combustion products ("CCPs"), today applauded the U.S. Environmental Protection Agency's Final Rule for regulation of coal ash disposal as a "non-hazardous" material under Subtitle D of the Resource Conservation and Recovery Act ("RCRA")."EPA's final decision to regulate coal ash disposal as a non-hazardous material is consistent with science and previous EPA regulatory determinations dating to the 1980s," said Kirk Benson, Headwaters Chairman and Chief Executive Officer. "Beneficial use of coal ash remains exempt from regulation and is increasingly viewed as a preferred alternative to disposal."
"We are pleased that the EPA's Final Rule establishes upgraded standards for coal ash disposal under Subtitle D, the non-hazardous solid waste section of Federal law," said Benson. "This step, combined with the EPA's recently renewed support for using fly ash in concrete, sends a powerful signal that coal ash should be viewed as a safe and valuable resource for sustainable building practices."
The EPA published its Final Rule on December 19th in compliance with a court-ordered deadline. In 2012, Headwaters sued the EPA to force the deadline for completing disposal regulations that were initially proposed in 2010 under RCRA. The lengthy regulatory process created uncertainty that potentially dampened the beneficial use of coal combustion products.
Earlier this year, the EPA also released a coal ash "risk evaluation methodology" and applied that methodology to a study of two prominent beneficial uses - fly ash in concrete and synthetic gypsum in wallboard. EPA's study concluded that "…environmental releases of constituents of potential concern…from CCR fly ash concrete and FGD gypsum wallboard during use by the consumer are comparable to or lower than those from analogous non-CCR products, or are at or below relevant regulatory and health-based benchmarks for human and ecological receptors…"
1
The study further noted, "EPA supports the beneficial use of coal fly ash in concrete and FGD gypsum in wallboard. The Agency believes that these beneficial uses provide significant opportunities to advance Sustainable Materials Management (SMM)."
"As the nation's leading coal ash marketer, Headwaters looks forward to increasing the utilization of these valuable materials," said Benson. "The EPA Final Rule for regulation of coal ash disposal provides regulatory certainty that will help us grow the beneficial use of coal ash, safely keeping the material out of disposal facilities, and create economic and environmental value."
About Headwaters IncorporatedHeadwaters Incorporated is improving lives through innovative advancements in construction materials through application, design, and purpose. Headwaters is a diversified growth company providing products, technologies and services to the heavy construction materials, light building products, and energy technology industries. Through its coal combustion products, building products, and energy businesses, the Company has been able to improve sustainability by transforming underutilized resources into valuable products. www.headwaters.com
FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This release contains forward-looking statements relating to Headwaters' operations that are based on management's current expectations, estimates and projections about the industries in which Headwaters operates. Words such as "may," "should," "anticipates," "expects," "intends," "plans," "targets," "forecasts," "projects," "believes," "seeks," "schedules," "estimates," "budgets," "goals," "outlook" and similar expressions are
intended to help identify such forward-looking statements. Forward-looking statements include Headwaters' expectations as to the managing and marketing of coal combustion products, the production and marketing of building products, the sales to oil refineries of residue hydrocracking catalysts, the development, commercialization, and financing of new products and other strategic business opportunities and acquisitions, and other information about Headwaters which are not purely historical by nature, including those statements regarding Headwaters' future business plans, the operation of facilities, the availability of feedstocks, and the marketability of the coal combustion products, building products and catalysts. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the Company's control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward- looking statements, which speak only as of the date of this report. Unless legally required, Headwaters undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ materially from those in
the forward-looking statements are: changing feedstock and energy prices; actions of competitors or regulators; technological developments; potential disruption of the Company's production facilities, transportation networks and information technology systems due to war, terrorism, malicious attack, civil accidents, political events, civil
unrest or severe weather; potential environmental liability or product liability under existing or future laws and
litigation; potential liability resulting from other pending or future litigation; changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; and the factors set forth under the heading "Risk Factors" in the Company's Annual Report on Form 10-K, quarterly reports on Form 10-Q and other periodic reports. In addition, such results could be affected by general domestic and international economic
and political conditions and other unpredictable or unknown factors not discussed in this release which could have material adverse effects on forward-looking statements.
###
2
|
distributed by
|
