On June 1, 2023, Enviri Reached An Amicable Agreement With Stericycle To Resolve All Significant Disputes; Stericycle To Pay Enviri $6M
Portfolio Pulse from Benzinga Newsdesk
Enviri and Stericycle have reached an agreement to resolve their disputes, with Stericycle paying Enviri $6 million for prior work under the healthcare services agreement. The parties have also agreed to price increases for Clean Earth's services going forward.
June 07, 2023 | 11:28 am
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POSITIVE IMPACT
Harsco Corporation's subsidiary, Clean Earth, will benefit from price increases agreed upon in the settlement between Enviri and Stericycle.
As a subsidiary of Harsco Corporation, Clean Earth stands to benefit from the agreed-upon price increases for its services in the settlement between Enviri and Stericycle. This may positively impact HSC's revenues in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Stericycle settles disputes with Enviri, agreeing to pay $6 million for prior work and increasing prices for Clean Earth's services.
Stericycle's payment of $6 million to Enviri and the agreement to increase prices for Clean Earth's services may negatively impact the company's short-term financials. The resolution of the dispute, however, removes uncertainty and potential legal costs.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100