Bennett Environmental Management Announces $7,498,000 Slovakian Contract.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--April 15, 1997-- Bennett Environmenta(ME BEV.) Bennett Environmental Bennett Environmental TSX: BEV AMEX: BEL is a Canadian company based in Oakville, Ontario. It specializes in the recovering of soils contaminated with chlorinated hydrocarbons, including PCB's and PCP's, Dioxins and Furans. Inc., (BEI Bei (pā, bā), river, c.200 mi (320 km) long, formed by the union of two headstreams in the Nanling Mts., N Guangdong prov., S China. It flows S into the Xi River, E of Guangzhou, to form the Pearl River delta. ), is pleased to announce that it has entered into a conditional contract Noun 1. conditional contract - a contract whose performance depends on a fact or event that affects legal relations contract - a binding agreement between two or more persons that is enforceable by law worth $7,498,000 to supply thermal remediation units to Siwast in Slovakia. The agreement also provides for the supply of an additional thermal unit at the present price plus 10 percent, until January 31, 1999. The contract is subject to financing. The contract is expected to close by June 30, 1997 after confirmation of financing and payment of a 15 percent deposit to BEI. In recent new releases, the company announced that La Societe Commandite Soccrent has converted its interest in Recupere Sol Inc. (RSI (Repetitive Strain Injury) Ailments of the hands, neck, back and eyes due to computer use. The remedy for RSI is frequent breaks which should include stretching or yoga postures. ), into BEI shares at $2.29 per share, for a total of 131,004 shares. RSI is now a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of BEI. BEI now has amongst its shareholders, representatives from Labour, Government and the Private Sector: Gestion EnviroCapital representing a major Quebec pension fund, Societe SOCCRENT representing the major industrial enterprises in the Saguenay valley, and the Government of Quebec represented by Innovatech. The company has recently returned from the Far East after signing a record six agreements as part of the Team Canada trade mission. Details of the trip have been reported on in previous news releases. The Company is engaged in the operation, development and manufacture of thermal treatment technology and equipment for the remediation of waste hydrocarbons and hazardous chemicals. The Company's first owned and operated facility in St. Ambroise Quebec, was opened on September 13, 1996. Bennett's proprietary technology has been approved by the Ministry of Environment in Quebec, Alberta, British Columbia and Alaska. The Company's thermal oxidizers have been sold in Alberta, Alaska and the Caribbean (Aruba). The Company holds the only thermal waste remediation permits for treatment of contaminated contaminated, v 1. made radioactive by the addition of small quantities of radioactive material. 2. made contaminated by adding infective or radiographic materials. 3. an infective surface or object. soils in Quebec and British Columbia. In addition, the Company has the only permit for a secure land fill in British Columbia. These are the only such permits granted to date. Bennett Environmental Inc., is listed on the Montreal Exchange Montreal Exchange A Canadian derivatives exchange that facilitates the trading of stock options, interest rate futures and options, as well as index options and futures. Located in Montreal, Quebec, it is the country's main financial derivative market, while the Winnipeg (BEV). On behalf of the Board of Directors of BENNETT ENVIRONMENTAL INC.: JOHN BENNETT, 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. CONTACT: Bennett Environmental Inc. John Bennett, 604/ 681-8828 604/ 681-6825 (FAX) Email: bennett@netcom.ca |
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