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WMI sells nuclear biz
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March 29, 2000: 6:17 p.m. ET
Waste Management sells nuclear waste biz to GTS Duratek
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NEW YORK (CNNfn) - Waste Management Inc. announced after the bell Wednesday that it is selling its nuclear waste services division to GTS Duratek Inc. for $65 million.
Waste Management (WMI: Research, Estimates) said in a press release it is selling its nuclear business to Duratek (DRTK: Research, Estimates) to focus on its, "core North American solid waste operations." Duratek is based in Columbia, Md., and has a market capitalization of just over $125 million
Houston-based Waste Management's nuclear division provides waste handling transportation, treatment, packaging, storage and disposal of nuclear waste of the U.S. Department of Energy and other Federal agencies.
The deal is subject to regulatory approval.
Shares of Waste Management rose 1-1/16 to 14-1/8 on the New York Stock Exchange, while Duratek fell 5/16 to 9-1/4 on the Nasdaq. 
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