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ATG Buys Firm's Assets, Intellectual Property

November 26, 1998|Bloomberg News

ATG Inc. said it bought assets and intellectual property from Molten Metal Inc. for $10.5 million and will try to resurrect technology on which Molten once rested its fortunes--turning hazardous waste into reusable materials. ATG, a radioactive-waste treatment company, outbid a $10-million offer from Framatome Technologies Inc., a U.S. unit of France's nuclear reactor maker Framatome. The purchase includes Molten's process of turning hazardous waste into scrap metal, gases and other recoverable materials by running the waste through a molten-metal bath. Molten, based in Fall River, Mass., filed for bankruptcy protection in December. Molten's customers included 75% of the nuclear facilities in the U.S. and the Department of Energy. Fremont-based ATG, which treats mostly solid waste, also bought "wet-waste" assets that include processing equipment used to treat radioactive liquid from power plants. ATG shares fell 13 cents to close at $6.63 on Nasdaq. Molten shares, which hit $41.25 in November 1995, rose 2 cents to 10 cents in over-the-counter trading.

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