BOVAR Inc. - Acquisition Of The Shares Of A Subsidiary Of ASWMC.INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BVR BVR Beyond Visual Range BVR Business Valuation Review (journal) BVR Biliverdin Reductase BVR Bureau of Vocational Rehabilitation BVR Bulletin de Versement (French) ) BOVAR Inc. today announced that it has entered into a Letter of Intent among the Province of Alberta, Alberta Special Waste Management Corporation ("ASWMC ASWMC Alberta Special Waste Management Corporation "), BOVAR Technology Ltd. and BOVAR Inc. ("BOVAR"). The Letter of Intent provides for the acquisition by BOVAR Technology Ltd. of the shares of a subsidiary of ASWMC that now holds ASWMC's 40 percent interest in the Alberta Special Waste Treatment System ("System") which includes the hazardous waste management facility located near Swan Hills, Alberta Swan Hills is a town (incorporated January 1, 1967) in northern Alberta, Canada. It is located km ( mi) north of Whitecourt at the junction of Highway 32 and Grizzly Trail. Swan Hills is located in Municipal District of Big Lakes within census Division No. 17, Alberta. . The purchase price for the subsidiary is a combination of the sharing of both future income and proceeds from the sale of any material portion of the waste treatment facility operated by the System on a declining scale that terminates in 2003. The company being acquired has approximately $135 million in cash reserves. Such reserves will be used by the company to operate the System and approximately $87 million will be used to retire all of BOVAR's bank debt. Providing certain conditions are met, BOVAR has agreed to operate the System until at least December 31, 1998. To secure the ongoing operation of the System, BOVAR is posting security equal to approximately $35 million which will gradually decline to zero by December 31, 1998. Since the commencement of importation from eastern Canada in July 1995, the System has demonstrated an ability to generate positive cash flow. The export of PCB PCB: see polychlorinated biphenyl. PCB in full polychlorinated biphenyl Any of a class of highly stable organic compounds prepared by the reaction of chlorine with biphenyl, a two-ring compound. waste to the United States is currently under review. In the event the borders are open, BOVAR anticipates increased competition from United States based treatment alternatives. The completion of the transaction is subject to Definitive agreements. BOVAR Inc. is a public Canadian company which provides environmental and waste management services internationally. BOVAR operates and is 60 percent owner of Canada's only fully integrated hazardous waste treatment facility which is located near Swan Hills, Alberta. BOVAR conducts its operations through Chem-Security (Alberta) Ltd., BOVAR Engineered Products, BOVAR Environmental, and BOVAR Biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. Services. CONTACT: BOVAR Inc. Monty L. Davis, 403/235-8302 Franklin T. Bailey, 403/235-8337 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion