AERT Rogers, Arkansas Update; Construction commencing at plastic reclamation facility.SPRINGDALE, Ark.--(BUSINESS WIRE)--March 18, 1997--Advanced Environmental Recycling Technologies Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AERTA AERTA Army Environmental User Requirements and Technology Assessments (US Army) , AERTZ) (AERT AERT Advanced Environmental Recycling Technologies, Inc AERT Animal Emergency Response Team ) announced today that the company has submitted a claim of loss for approximately $1.956 million dollars to its insurance carrier for damages experienced in a Dec. 15, 1996 fire at the company's Rogers, Ark. plastic reclamation facility. The company also announced that the insurance company has advanced $350,000 to the company involving said December loss. The company has submitted its rebuilding and safety systems plans to the local building authorities which are currently under evaluation and intends to promptly initiate rebuilding the manufacturing structure as soon as possible. Cleanup and debris removal has been completed and construction is preparing to commence on the storage bulk load-out and warehouse facility which was also destroyed in a previous September, 1996 fire at the facility. The September fire damage was approximately $1.455 million dollars and the September claim has been settled with the two insurance companies involved. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. AERT President Joe G. Brooks, "The company intends to promptly initiate repair of structural and roof damage, in conjunction with some equipment removal and repair work regarding the December fire. Due to the structural damage in a portion of the manufacturing plant, some rebuilding will have to wait until that is repaired due to safety considerations. It is our intent to bring this facility back on line and into operation in the near future." The AERT Rogers, Ark. plastic reclamation facility recycled post consumer low density and high density polyethylene High-density polyethylene (HDPE) is a polyethylene thermoplastic made from petroleum. It takes 1.75 kilograms of petroleum (in terms of energy and raw materials) to make one kilogram of HDPE. plastic waste for the company's growing lines of MOISTURESHIELD(TM) and CHOICEDEK(TM) composite building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . . The facility utilized extensive cleaning systems to reprocess re·proc·ess tr.v. re·proc·essed, re·proc·ess·ing, re·proc·ess·es To cause to undergo special or additional processing before reuse. Verb 1. recycled plastics into consistent plastic feedstocks. The facility also employed several patented technologies. The plastic from Rogers, Ark. was then shipped and utilized at the company's Junction, Texas Junction is a city in Kimble County, Texas (USA). The population was 2,618 at the 2000 census. It is the county seat of Kimble CountyGR6. Geography Junction is located at (30.489772, -99. composite manufacturing facility where it was combined and mixed with cedar fibers and extruded into highly moisture resistant and dimensionally stable engineered building materials. The products are encapsulated in plastic and composed of approximately 48% plastic and 52% wood and are currently marketed into the high-end residential decking market, the national door and window component market, and the industrial flooring market. The company is currently running three extrusion lines at its Texas facility and has continued to supply its customer base. CONTACT: Advanced Environmental Recycling Technologies Joe G. Brooks, 915/446-3430 |
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