American Eco joint venture opens multi-billion dollar Latin American market.HOUSTON, Texas--(BUSINESS WIRE)--Feb. 4, 1997-- American Eco Corporation announced it has signed a letter of intent to form a joint venture with CVG CVG Convergys Corp CVG Corporación Venezolana de Guayana CVG Clear Vertical Grain (woodworking) CVG Carrier Group CVG Corporacion Venezolana de Guyana CVG Comprehensive Video Group (South Hackensack, NJ, USA) International America (CVGIA), Caracas, Venezuela. CVGIA provides exclusive services to Corporacion Venezolana de Guyana (CVG), a public entity established in 1960 to develop the Guyana region which contains 80 percent of the country's forest and mining reserves and 75 percent of the hydroelectric potential. CVG operates mining and industrial operations in gold, bauxite bauxite (bôk`sīt, bŏk`–), mixture of hydrated aluminum oxides usually containing oxides of iron and silicon in varying quantities. , aluminum, steel, power and forest products. The continual development of the region and the pending privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned of the aluminum sector requires environmental remediation and long term environmental management. CVGIA and American Eco Corporation have agreed to form a join venture to provide comprehensive industrial, environmental, engineering and health and safety services to the CVG companies. An initial study by the international consulting firm, A.C. Little, estimates the DVG DVG Divers Gauche (France, politics) DVG Discrete Value Group DVG Deutsche Vakuum-Gesellschaft eV (German Vacuum Society) DVG Digital Video Generator DVG Digital Voice Guard environmental program demands are in excess of $500 million. The Environmental Business Journal has estimated the environmental market in Venezuela at $390 million per year, and the total Latin American environmental market at $7.8 billion. Michael E. McGinnis, president and 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 joint venture with CVGIA is the result of our company's efforts in Venezuela for the past three years. The proposed venture will serve as a great opportunity for many of our operating units to take advantage of the rapidly expanding market in Venezuela, and throughout South America." 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, management, maintenance and environmental remediation services in the refining, petrochemical, utility and forest products industries. CONTACT: American Eco Corporation - Houston W. Todd Hickman, 281/ 774-7000 |
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