AIR & WATER TECHNOLOGIES UNIT SIGNS FIVE-YEAR MANAGEMENT CONTRACT WITH PUERTO RICO AQUEDUCT AND SEWER AUTHORITYAgreement To Manage Island's Water and Wastewater System One of Largest Municipal Contracts Ever Signed in United States BRANCHBURG, N.J., May 31 /PRNewswire/ -- Air and Water Technologies Corporation (AMEX AMEX See: American Stock Exchange : AWT (Abstract Windowing Toolkit) A class library from Sun that provides an application framework and graphical user interface (GUI) routines for Java programmers. AWT was the first user interface development system included in the Java Foundation Classes (JFC). ) announced today that its Professional Services Group, Inc. (PSG PSG, n polysomnograph; polygraph performed during sleep. Physiological variables such as pulse, blood pressure, and respiration are monitored and charted. ) subsidiary has signed a five-year contract to manage on behalf of Puerto Rico Aqueduct and Sewer Authority (PRASA) the entire water and wastewater treatment system on the island of Puerto Rico. PRASA has an annual operating budget of approximately $350 million per year, and employs about 6,700 people in the management of the system, which services all of Puerto Rico's 3.6 million residents. Under the contract, during the five year term, PSG will be responsible for day-to-day operations, while PRASA will remain in charge of all financing and strategic activities. Revenues to PSG will approximate $100 million annually. "We are delighted that PRASA has chosen PSG to manage its water and wastewater facilities," said Claudio Elia, chairman and chief executive officer of AWT. "This development, and the improvements we are seeing in virtually all of our businesses, position us well to achieve our objective of enhanced performance in fiscal 1995 and profitable growth going forward." Air & Water Technologies, through its operating subsidiaries, provides a broad range of operating and maintenance services and environmental solutions and technologies to utility, industrial and governmental clients.
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/CONTACT: Robert S. Volland of Air & Water Technologies, 908-685-4600/ (AWT) CO: Air and Water Technologies Corporation; Professional Services Group, Inc.; Puerto Rico Aqueduct and Sewer Authority ST: New Jersey IN: ENV ENV Environment ENV Envelope ENV Environmental Science ENV Emissions Neutral Vehicle ENV École Nationale Vétérinaire (French) ENV Estimated Net Value ENV European Norm Voluntary SU: CON TW -- NY028 -- 0784 05/31/95 09:33 EDT |
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