Danielson Completes Acquisition of American Ref-Fuel

---

Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). On June 24, 2005, Covanta Energy Corporation, a subsidiary of Danielson Holding Corporation (AMEX:DHC), has closed the purchase of American Ref-Fuel for $740 million in cash. American Ref-Fuel, a waste-to-energy company, will be a wholly-owned subsidiary of Covanta Energy Corporation. With this acquisition, Covanta Energy will add six more waste-to-energy plants in the northeastern United States.

Three of the six power plants that Danielson Holding Corporation has acquired are the 18 MW Southeastern Connecticut Resource Recovery Facility in Preston, Connecticut, the 90 MW Delaware Valley Resource Recovery Facility in Chester, Pennsylvania, and the 70 MW Essex County Resource Recovery Facility in Newark, New Jersey. These three power plants all have General Electric (GE) steam turbines, with a total capacity of 178 MW.

The other power stations that were acquired in the transaction were the Westbury, New York 78 MW Hempstead Resource Recovery Facility, with one ABB steam turbine. Also, the 50 MW Niagara Falls Resource Recovery Facility in Niagara Falls, New York, which consists of one Alstom steam turbine and one GE steam turbine, and the 88 MW SEMASS Resource Recovery Facility in West Wareham, which is a joint partnership with another owner. Danielson Holding Corporation purchases only 90% of this power station's output, for a total of 79.2 MW.

American Ref-Fuel Company is headquartered in Montvale, New Jersey, and is considered to be the leading waste-to-energy company in the northeast United States. This waste-to-energy company generates enough electricity to supply 350,000 homes. Danielson Holding Corporation (DHC), the parent company of Covanta Energy Corporation, is based in Fairfield, New Jersey. DHC is now one of the leading waste-to-energy corporations in the nation and operates 25 facilities through its subsidiary Covanta Energy Corporation.

View Plant Profiles - 1036007 1522744 1016034 1018901 1031126

Industrial Information Resources (IIR) is a Marketing Information Service company that has been doing business for over 22 years. IIR is respected as a leader in providing comprehensive market intelligence pertaining to the industrial processing, heavy manufacturing, and energy-related industries throughout the world.