American Eco Captures its Largest Acquisition from Successful Industra Bid.HOUSTON, Texas--(BUSINESS WIRE)--July 23, 1996--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. CORP. (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 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) announced that it has 3,435,530 or 87.9 percent of the outstanding Common Shares of Industra Service Corporation (TSE-IND) through its tender offer and the 340,000 Common Shares previously purchased by American Eco. Michael E. McGinnis, 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. of American Eco stated, "The acquisition of Industra is a cornerstone in the exciting expansion of American Eco from the Gulf Coast sweeping up through the Pacific seaboard, and in particular the synergy of offering a single source solution through our geographic expansion not only in the refinery and petrochemical markets, but by adding the expertise of Wayne Shaw and his team in the pulp & paper and power generation markets." Mr. McGinnis also confirmed, "Wayne Shaw, Chairman & Chief Executive Officer of Industra is continuing as the senior executive of Industra and is being appointed to the Board of Directors of American Eco to further capitalize on the successful integration of our services." Industra is an industrial engineering and environmental services company serving the pulp and paper, petrochemical and utility industries in both Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. . In the year ended December 31, 1995, Industra had revenues exceeding Can. $70.0 million. American Eco intends to take up and pay for the tendered shares in accordance with the Offer subject to requisite regulatory approval. The Company further intends to pursue a Subsequent Transaction as contemplated in the Offer which will result in Industra being a wholly-owned subsidiary of American Eco. Midland Walwyn Capital Inc. acted as financial advisor to American Eco in connection with the offer. 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 construction, project management, maintenance, demolition, dismantlement and environmental remediation services in the refining, petrochemical, government, commercial, manufacturing, and utility industries. CONTACT: American Eco Corporation Michael McGinnis President and Chief Executive Officer Houston, Texas 713/807-0100 or American Eco Corporation John C. Pennie Vice Chairman Toronto, Ontario 416/340-2727 |
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