Exsorbet Industries Inc. announces $23.5 million backlog.JACKSON, Miss.--(BUSINESS WIRE)--Oct. 16, 1996--Exsorbet Industries Inc. (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 SmallCap:EXSO) today announced a total backlog of approximately $23.5 million. The operations of 7-7 Inc., Exsorbet's newest subsidiary which was acquired on Sept. 30, 1996, account for approximately $12.3 million of the backlog. Dr. Ed Schrader Dr. Ed Schrader is President of Brenau University. He is the university's ninth president and has directed the Gainesville, GA school since January 2005. Brenau has experienced unprecedented growth in enrollment and academic quality under Dr. , president of Exsorbet Industries said, "We have seen the backlog of work in the contracting, consulting and industrial services sectors of our business steadily increasing throughout the year. We believe this increased business is the result of the synergistic effect Synergistic effect A violation of value-additivity in that the value of a combination is greater than the sum of the individual values. of our various subsidiaries. The addition of 7-7 Inc. increases our market, geographic and technical coverage and capabilities." 7-7 Inc. has incurred significant one time development and installation expenses this year in the completion of their regional coal-tar liquification facility in Cleveland, Ohio "Cleveland" redirects here. For the Cleveland metropolitan area, see . For other uses, see Cleveland (disambiguation). Cleveland is a city in the U.S. state of Ohio and the county seat of Cuyahoga County, the most populous county in the state. . The expenses have resulted in net negative cash flow year to date. The facility is now completed, installed and operational. The definitive agreement between Exsorbet and 7-7 Inc. is attached to, and more information concerning the transaction is contained in, and filed with, Exsorbet's current report on Form 8-K/A-1 filed with the United States Securities and Exchange Commission on Oct. 16, 1996. Exsorbet Industries Inc. is a diversified environmental product and service company specializing in state-of-the-art technical solutions for problems in site remediation, dewatering Dewatering (dē′wöd·ər·iŋ) is the removal of water from solid material or soil by wet classification, centrifugation, filtration, or similar solid-liquid separation processes. and pond solidification, coal and petroleum tar liquification and recycling, hazardous waste Hazardous waste Any solid, liquid, or gaseous waste materials that, if improperly managed or disposed of, may pose substantial hazards to human health and the environment. Every industrial country in the world has had problems with managing hazardous wastes. cleanup materials and service, bioremediation bi·o·re·me·di·a·tion n. The use of biological agents, such as bacteria or plants, to remove or neutralize contaminants, as in polluted soil or water. , environmental engineering and project management, and 24-hour emergency response service. Subsidiaries of Exsorbet Industries Inc. include Cierra Inc., Consolidated Environmental Services Inc., Eco-Systems Inc., Exsorbet Technical/SpilTech Services Inc., K.R. Industrial Service of Alabama Inc., LARCO Environmental Services Inc. and 7-7 Inc. with 22 offices located in the following cities: Dallas, Bridge City, Euless, and Houston, Texas; Fort Smith and Little Rock, Ark.; Tulsa, Okla.; Kansas City, Mo.; Jackson, Miss.; Mobile (2), Birmingham, Decatur, and Double Springs, Ala.; Baton Rouge and Sulphur (Lake Charles), La.; Knoxville, Tenn.; Wooster, Cleveland and East Liverpool, Ohio East Liverpool is a city in Columbiana County, Ohio, United States. The population was 13,089 at the 2000 census. It is located along the Ohio River and borders the states of Pennsylvania and West Virginia. ; Harrisburg and Steelton, Pa. Exsorbet and its subsidiaries currently employ about 500 professionals and staff. CONTACT: Exsorbet Industries Inc. Dr. Ed Schrader, 601/936-6633 Charles E. Chunn Jr., 501/452-1987 Ed Penick Jr., 501/664-7745 |
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