American Eco Earns $9.7 Million Order from SRS Joint Venture in Venezuela.HOUSTON--(BUSINESS WIRE)--March 23, 1998--American Eco 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 .) (BERLIN:AEOGR) announced that its Separation and Recovery Systems Inc. (SRS SRS, SRS-A see slow-reacting substance. ) subsidiary and Joint Venture partner SRS Recupertec of Caracas, Venezuela, have been awarded a second resource recovery contract for US$9.7 million from Venezuela National Oil Company, PDVSA PDVSA Petroleos De Venezuela, SA , Petroleo Y Gas S.A. SRS Recupertec provides resource recovery and environmental remediation services including the use of the SRS 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) Process for the recovery of oil production and oil refining wastes by separating valuable oil from oily sludge's and detoxification of the remaining solids for recycle or safe disposal. SRS Recupertec anticipates additional follow-on projects with PDVSA, Petroleo Y Gas S.A. Recently, the Venezuelan government has opened up the national oil industry to multinational participation. The multinational oil companies require strict adherence to U.S. environmental standards which has precipitated a move by Venezuela to address environmental concerns. The transaction includes the sale of SAREX Process equipment by SRS, to the joint venture company SRS Recupertec. The SAREX process is cutting edge technology utilized in refinery and chemical plants for the recovery of valuable oil resources and for the remediation of contaminated industrial sites, The SRS SAREX Process is field proven over the past ten years, and has been utilized in the United States, France, Mexico, Australia, Taiwan, and South Africa. Michael E. McGinnis, Chairman & 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 acceleration of our South American neighbors for sound environmental practices is continuing to bear fruit as we see within a nine month period, a second order for SAREX equipment that is five (5) times greater than the initial project started in 1997." American Eco is a leading North American provider of single-source construction, management, maintenance, specialty fabrication, engineering and environmental remediation services in the refining, petrochemical, utility, forest products and offshore manufacturing industries. CONTACT: Separation and Recovery Systems Inc., Irvine, California Joseph DeFranco, 714/261-8860 www.americaneco.com or American Eco Corporation Houston Cindy Jackson, 888/774-3246 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion