Printer Friendly

ENVIRx INDUSTRIES TAKES OPTION TO ACQUIRE SOLID WASTE COMPANY

 ENVIRx INDUSTRIES TAKES OPTION TO ACQUIRE SOLID WASTE COMPANY
 HOUSTON, July 9 /PRNewswire/ -- ENVIRx Industries, Inc. (NASDAQ: ENVX) announced today that it has obtained an option to acquire REC Corporation, a solid waste management company.
 The principal assets of REC Corporation are its agreements to acquire two solid waste companies based in Newark, N.J. The companies are Newark Disposal Services, Inc. and Essex Recycled Fibers, Inc., both owned by the same principals. The companies hold permits for and operate a transfer station engaged in the collection and recycling of municipal, industrial and commercial solid waste. Operations also include the collection and transportation of construction and demolition debris and the recycling of salvaged construction materials. Under the terms of the agreement, REC Corporation will operate both companies under a management contract. The sale will be completed pending approval by the State of New Jersey for the required waste management permits for REC and ENVIRx. The state approval process is expected to be completed by the fourth quarter of this year. The transaction will be in exchange for cash and notes financed by the principals of Newark Disposal Services and Essex Recycled Fibers. Combined revenues of the two companies are projected at approximately $6.0 million for the 12 months following the acquisition.
 The acquisition of REC Corporation by ENVIRx will be through an exchange of stock, upon completion of the two REC acquisitions.
 ENVIRx Industries, Inc., which recently entered the solid waste management industry is also engaged in the processing and disposal of wastewater sludge, construction of special waste disposal sites, and environmental engineering, consulting, and design of water pollution control equipment. The company's common stock is traded over the counter under the NASDAQ symbol ENVX.
 -0- 7/9/92
 /CONTACT: Tommy Fatjo, vice president, of ENVIRx Industries, Inc., 713-956-1212/
 (ENVX) CO: ENVIRx Industries Inc.; REC Corporation ST: Texas IN: SU: TNM


TM -- NY039 -- 7827 07/09/92 11:20 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 9, 1992
Words:321
Previous Article:MONONGAHELA POWER $65 MILLION FIRST MORTGAGE BONDS RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:THE NWNL COMPANIES DECLARES QUARTERLY DIVIDEND
Topics:


Related Articles
WESTERN WASTE ACQUIRES NORTH LOS ANGELES OPERATIONS
ALLIED WASTE INDUSTRIES TO PURCHASE FOUR COMPANIES
ENVIRX INDUSTRIES SIGNS LETTER OF INTENT TO ACQUIRE INLAND PRODUCTS
ALLIED WASTE INDUSTRIES, INC. TO ACQUIRE THREE WASTE COMPANIES
BFI SPANISH AFFILIATE ACQUIRES SIX COMPANIES IN SPAIN; BFI FILES POST-EFFECTIVE AMENDMENT TO FORM S-4 REGISTRATION STATEMENT
BFI ACQUIRES COUNTY WASTE OF BROWARD INC. AND RELATED COMPANIES
TRANSAMERICAN WASTE INDUSTRIES, INC. SIGNS DEFINITIVE AGREEMENT TO PURCHASE MISSISSIPPI LANDFILL
H. WAYNE HUIZENGA AND ASSOCIATES TO MAKE SIGNIFICANT EQUITY INVESTMENT IN REPUBLIC WASTE INDUSTRIES AND MR. HUIZENGA TO BECOME CHAIRMAN AND CHIEF...
REPUBLIC WASTE AGREES TO ACQUIRE SOUTHLAND ENVIRONMENTAL SERVICES
USA WASTE ANNOUNCES ACQUISITIONS REPRESENTING $50 MILLION IN ANNUALIZED REVENUES

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters