American Eco Acquires Internationally Based SRS of California.HOUSTON, Texas--(BUSINESS WIRE)--July 8, 1996-- (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 : ECGOF TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : ECX ECX European Climate Exchange ECX E-Commerce Exchange ECX eCatalog XML ECX Extended Count Register ECX Electronically Controlled Telephone Exchange ECX Extrusion-Cast Explosive (fine-grain) ECX Experimental Concentration - Percent ) AMERICAN ECO E·co , Umberto Born 1932. Italian writer best known for his novels, including The Name of the Rose (1981). He has also written extensively on semiotics and British and American popular culture. CORPORATION announced that it has completed the acquisition of 100 percent of the shares of SEPARATION AND RECOVERY SYSTEMS, INC., ("SRS SRS, SRS-A see slow-reacting substance. ") of Irvine, California. SRS was founded in 1971 by a group of investors interested in environmental concerns. The transaction was completed following shareholder and regulatory approval through the issuance of 777,778 common shares of American Eco. SEPARATION AND RECOVERY SYSTEMS, INC., with assets of $10.0 million and 1995 revenues of $12.6 million, forms a new international link for American Eco as part of its continuing strategy to establish a single source solution for the petrochemical, refinery and utility industries. SRS manufactures and distributes a proprietary line of SAREX SAREX Shuttle Amateur Radio Experiment (now Space Amateur Radio Experiment) SAREX Search And Rescue Exercise SAREX Space Amateur Radio Experiment (formerly Shuttle Amateur Radio Experiment) oil separator and filtration systems, with 30,000 units currently installed in one-half of the world's fleet of oil and petrochemical tankers, as well as in major oil refineries. SRS President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Joseph De Franco, will continue to manage SRS operations from its Irvine, California facility. SRS operates in the USA, Europe, South Africa, Middle East, Australia, Singapore, and Mexico. Mr. Frank Sorg, the current Chairman of SRS, will be slated to join the Board of American Eco Corporation. Michael E. McGinnis, President & CEO of American Eco, stated, "American Eco anticipates that the SRS International distribution network will further extend our services through SRS customers such as Arco, Fina, Marathon Oil, Sun Oil, and Tosco Corporation. In addition, the technology and expertise of SRS enhances American Eco's ability to acquire turnkey projects as the aging refineries of the America's are replaced and upgraded." AMERICAN ECO is a leading North American provider of single source construction, project management, maintenance, demolition, dismantlement and environmental remediation services in the refining, petrochemical, government, commercial, manufacturing, and utility industries. CONTACT: American Eco Corporation (Houston, Texas) Michael E. McGinnis, 713/807-0100 or American Eco Corporation (Toronto, Canada) John C. Pennie, 416/340-2727 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion