American Eco Buys out Balance of Trans Canada Pipeline Joint Venture.HOUSTON--(BUSINESS WIRE)--Nov. 17, 1998--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 (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 ) announced today that it has purchased the balance of the interest held by the Steen Pipeline subsidiary of Dominion Bridge in American Eco's joint venture to install 54 miles of 42" high pressure pipe for Trans Canada Pipelines. This purchase is retroactive to the beginning of the project on June 15th, 1998, giving American Eco 100% of the revenue and income from the project. The contract for US$47.0 million is expected to be substantially complete at the end of November. American Eco indicated that the Receivers for Steen Contractors, Ltd. wished to windup liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy of the assets and made a favorable offer to American Eco to acquire the Steen position. The buyout price was undisclosed. American Eco is a leading North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. provider of single-source industrial support and specialty fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. services in the energy, pulp & paper, and power generating industries. This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the company believes that its expectations are based on reasonable assumptions, it can give no assurance that such expectations will be achieved. Important factors that could cause actual results to differ materially from those in the forward looking statements made herein include the ability of the company to continue to expand through acquisitions, the availability of capital to fund the company's expansion program, the ability of the company to manage its expansion effectively, economic conditions that could affect demand for the company's services, the ability of the company to complete projects profitably and severe weather conditions that could delay projects. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date on which such statements are made. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company. |
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