SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date of Report (Date of earliest event reported) May 15, 2000
TRANSTECH INDUSTRIES, INC.
(Exact name of registrant as specified in charter)
Delaware 0-6512 22-1777533
(State or other (Commission (IRS. Employer
jurisdiction of File Number) Identification No.)
incorporation)
200 Centennial Ave., Piscataway, N.J. 08854
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (732)981-0777
(Former name or former address, if changed
since last report.) Not applicable
Page 1 of 5 pages
No exhibit index
Item 5. OTHER EVENTS.
On May 15, 2000 the Company's capping plan for the Southern Ocean
Landfill was approved by the New Jersey Department of Environmental
Protection (the "Capping Plan"). The Capping Plan was developed by
the Company's wholly owned subsidiary, United Environmental
Services Inc. ("UES").
The estimated time required to complete the Capping Plan is
approximately 10 months after site mobilization. Site mobilization
is anticipated to be substantially completed by June 1, 2000.
UES's estimate of the gross revenue associated with the Capping
Plan is approximately $1.9 million, of which an estimated $1.4 -
1.5 million would be paid to UES for its work on the project.
The Southern Ocean Landfill (the "Site") is located in Ocean
Township, Ocean County, New Jersey, and is owned and operated by
Southern Ocean Landfill, Inc. ("SOLF"). On January 15, 1998 the
Company , SOLF and SOLF's sole shareholder executed an agreement
(the "Agreement") pursuant to which UES agreed to develop a
conceptual plan (the "Conceptual Plan") for the closure of the Site
as mandated by the New Jersey Department of Environmental
Protection ("DEP"). The Conceptual Plan needed to address the
financing of the closure as well as methodology since funds
remaining in the existing escrow fund established for the closure
of the Site are insufficient to fund a complete closure. The
Capping Plan evolved as a scaled down version of the Conceptual
Plan as it was modified over time to incorporate input from various
sources, including UES' legal and technical advisors, and to
reflect changes in the markets for recyclable material and changes
in the scope of work.
The Capping Plan is one phase in the multiphased implementation of
the Site's closure. Approximately 12 acres of the 56 acre disposal
area on the Site has a liner beneath the deposited waste. The
Capping Plan has been limited to the grading and capping of the
lined portion of the Site and grading and capping of a portion of
the adjoining unlined landfill area, and grading and capping of a
previously used access road straddling the lined and unlined
landfill areas at the Site. Approved activities include landfill
grading, landfill capping, leachate collection, leachate pump
repair, slope stability analysis, stormwater management design,
Health and Safety Plan submission, gas vent installation,
groundwater monitoring and associated activities. The Capping Plan
calls for the use of recyclable materials where possible in the
implementation of the plan. Tipping fees generated from the
deposit of the recyclable materials will be paid into a new escrow
from which the costs incurred pursuant to the Capping Plan will be
paid.
The Agreement provides that UES shall perform all of the above
construction and managerial functions required under the Capping
Plan as well as act as SOLF's agent to solicit the recyclable
materials. The Capping Plan requires UES to, among other
conditions, maintain certain levels and types of insurance
coverage. Furthermore, UES has agreed to seek payment for its
services and reimbursement for its costs solely from the escrowed
funds generated from the delivery of recyclable materials. In
addition, UES has devoted significant time and has incurred
professional fees during 1998, 1999 and 2000 in pursuit of the
Agreement and Capping Plan, and will seek reimbursement of such
professional fees and certain other contract development expenses,
from the escrowed funds. However, there can be no assurance that
UES will be able to solicit sufficient quantities of recyclable
material to generate sufficient funds for reimbursement of the
above expenditures, or payment for the services of UES. Further,
there can be no assurance that UES will be granted contracts for
additional work at the Site envisioned in the Conceptual Plan.
Certain statements in this report which are not historical
facts or information are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, but not limited to, the information set forth herein.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
levels of activity, performance or achievement of the Company, or
industry results, to be materially different from any future
results, levels of activity, performance or achievement expressed
or implied by such forward-looking statements. Such factors
include, among others, the following: general economic and business
conditions; the ability of the Company to implement its business
strategy; the Company's ability to successfully identify new
business opportunities; changes in the industry; competition; the
effect of regulatory and legal proceedings, particularly those
dealing with environmental law; and other factors discussed herein.
As a result of the foregoing and other factors, no assurance can be
given as to the future results and achievements of the Company.
Neither the Company nor any other person assumes responsibility for
the accuracy and completeness of these statements.
Press Release
See the following press release dated May 17, 2000 regarding
the Capping Plan.
PISCATAWAY, N.J., May 17, 2000 - Robert V. Silva,
President and Chief Executive Officer of Transtech Industries,
Inc. (OTC BULLETIN BOARD:TRTI) provided additional information
regarding the capping plan for the Southern Ocean Landfill
which was approved by the New Jersey Department of
Environmental Protection (the "Capping Plan") and announced by
the Company on May 17, 2000.
The Capping Plan was developed by the Company's wholly owned
subsidiary, United Environmental Services Inc. ("UES"). The
Southern Ocean Landfill (the "Site") is located in Ocean
Township, Ocean County, New Jersey, and is owned and operated
by Southern Ocean Landfill, Inc. ("SOLF").
The estimated time required to complete the Capping Plan is
approximately 10 months after site mobilization on or about
June 1, 2000. UES' estimate of the gross revenue associated
with its work related to the Capping Plan is approximately
$1.4 - $1.5 million.
The Capping Plan is one phase in the multiphased
implementation of the Site's closure. The Capping Plan calls
for the use of recyclable materials where possible in the
implementation of the plan. Tipping fees generated from the
deposit of the recyclable materials will be paid into a new
escrow from which the costs incurred pursuant to the Capping
Plan will be paid. UES shall perform all of the construction
and managerial functions required under the Capping Plan as
well as act as SOLF's agent to solicit the recyclable
materials.
UES has agreed to seek payment for its services and
reimbursement for its costs solely from the escrowed funds
generated from the delivery of recyclable materials. In
addition, UES has devoted significant time and has incurred
professional fees during 1998, 1999 and 2000 in pursuit of the
Agreement and Capping Plan, and will seek reimbursement of
such professional fees and certain other contract development
expenses, from the escrowed funds. However, there can be no
assurance that UES will be able to solicit sufficient
quantities of recyclable material to generate sufficient funds
for reimbursement of the above expenditures, or payment for
the services of UES.
Certain of the above statements which are not historical facts
or information are forward-looking statements. Such forward-
looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual
results, levels of activity, performance or achievement of the
Company, or industry results, to be materially different from
any future results, levels of activity, performance or
achievement expressed or implied by such forward-looking
statements. Such factors include, among others, the
following: general economic and business conditions; the
ability of the Company to implement its business strategy; the
Company's ability to successfully identify new business
opportunities; changes in the industry; competition; the
effect of regulatory and legal proceedings, particularly those
dealing with environmental law; and other factors discussed
herein. As a result of the foregoing and other factors, no
assurance can be given as to the future results and
achievements of the Company. Neither the Company nor any
other person assumes responsibility for the accuracy and
completeness of these statements.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.
TRANSTECH INDUSTRIES, INC.
(Registrant)
By: /s/ Andrew J. Mayer, Jr.
Andrew J. Mayer, Jr., Vice
President-Finance, Chief
Financial Officer and
Secretary
Dated: May 17, 2000
