U.S. Plastic Lumber Corp. Announces New Contract Awards to Environmental Services Subsidiary.Business Editors/Environmental Writers BOCA RATON, Fla.--(BUSINESS WIRE)--Aug. 31, 2000 U.S. Plastic Lumber Corp. (Nasdaq:USPL USPL United States Price List ), announced today that its 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. , Clean Earth Inc., ("CEI CEI Competitive Enterprise Institute CEI Conferenza Episcopale Italiana (Italian bishop conference) CEI Central European Initiative CEI Comitato Elettrotecnico Italiano (Italian Electrotechnical Committee) "), an environmental services company, was awarded new contracts totaling approximately $23 million. Clean Earth, Inc., through the combined efforts of its subsidiaries Barbella Environmental Technology, Inc., ("BET"), Somerville, NJ and Integrated Technical Services, Inc., ("ITS"), Winslow, NJ, was awarded several significant projects involving the use of CEI's technologies and experience. Barbella Environmental Technology, Inc. was awarded a $9 million contract from the Cumberland County Landfill Development Authority for the construction of three new double-lined landfill cells and the related work for leachate leach·ate n. A product or solution formed by leaching, especially a solution containing contaminants picked up through the leaching of soil. management facilities; including a collection conveyance system, pump buildings, and force main construction. The new cells will provide an additional 26 acres of landfill space to serve Cumberland County, NJ. BET was also awarded a $7 million project from the Hackensack Meadowlands Development Commission ("HMDC HMDC Harvard-MIT Data Center HMDC Hackensack Meadowlands Development Commission ") to construct perimeter closure improvements including sedimentation ponds, outlet structures, and perimeter ditches and berms. The closure operation will allow HMDC to continue their program of "returning previously used property to the community" by providing a native habitat, hiking trails, and open space. BET was also awarded approximately $2 million of contract change orders on existing contracts and several new smaller projects. BET performs infrastructure and brownfield renewal projects involving heavy civil and environmental construction methods, including landfill construction and capping, water treatment plants and geo-environmental installations. Integrated Technical Services (ITS) was awarded new contracts totaling approximately $5 million, which include landfill construction projects in Maryland and Delaware, and a project for remediation services at the Letterkenny Army Depot Letterkenny Army Depot, the Center of Industrial and Technical Excellence for Air Defense and Tactical Missile Systems, was established in 1942. The depot is under the command structure of the U.S. Army Aviation and Missile Command (AMCOM). . ITS provides specialty site treatment and innovative technology services for the remediation of environmentally distressed sites. Consolidated Technologies, Inc. (CTI (Computer Telephone Integration) Combining data with voice systems in order to enhance telephone services. For example, automatic number identification (ANI) allows a caller's records to be retrieved from the database while the call is routed to the appropriate party. ), also a CEI subsidiary, has completed a $2 million initial project at the Claremont Dredge Material Recycling Port Facility (DMRF DMRF Dystonia Medical Research Foundation DMRF Dual-Mode Ring Filter ). This project, which has been previously announced by USPL, represented the start-up project for the facility and was performed for the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Department of Sanitation. The work involved the removal 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. sediment by dredge, transport by barge to the DMRF facility for process treatment and subsequent shipment as recyclable fill for the remediation and reclamation of Pennsylvania strip mines. In July, CTI started their second project for the Port Authority of New York and New Jersey Port Authority of New York and New Jersey, self-sustaining public corporation established in 1921 by the states of New York and New Jersey to administer the activities of the New York–New Jersey port area, which has a waterfront of c. . This $11.5 million project, which was also previously announced, involves similar dredging efforts wherein CTI will process 200,000 cubic yards of contaminated dredge for ultimate reclamation of a Pennsylvania strip mine. CTI provides environmental recycling and beneficial re-use services primarily related to the treatment, processing and beneficial re-use of clean and environmentally impacted dredge materials for a variety of upland uses. Frank Barbella, President of Clean Earth, Inc., said, "CEI's expertise in the beneficial re-use technology and our fixed base treatment facilities are the core ingredient for our success in obtaining these new business contracts for the remainder of this year and 2001. The start-up at the Claremont Facility, despite some early setbacks, is now progressing toward capacity and solidifies our position for significant future opportunities in the dredge re-use market. These developments and the near capacity volumes at our other Clean Earth treatment facilities are indicative of an extremely productive and successful year." USPL also reported that recent rankings for the "Top 200 Environmental Firms" by the industry standard "Engineering News-Record" (ENR ENR Enrolled (bill, resolution, etc. passed by both houses of Congress and re-typed) ENR Engineering News Record EnR Énergies Renouvelables (French) enr Enregistrement (French) ), cited Clean Earth, Inc. as number 18 in the top "All Environmental Firms", based upon 1999 revenues and Barbella Environmental Technology, Inc., as number 14 in the Solid Waste category. U.S. Plastic Lumber Corporation develops beneficial re-use options and end-product solutions for distinct types of waste streams. The company has two main business lines: the manufacture of plastic lumber, packaging and other value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. products from recycled plastic, and the operation of interrelated in·ter·re·late tr. & intr.v. in·ter·re·lat·ed, in·ter·re·lat·ing, in·ter·re·lates To place in or come into mutual relationship. in environmental recycling services. U.S. Plastic Lumber is the nation's largest producer of recycled plastic lumber. Headquartered in Boca Raton, Florida Boca Raton ("bōkə rə-tōn") is a city in Palm Beach County, Florida incorporated in May 1925. As of the 2000 census, the city had a total population of 74,764; the 2006 population recorded by the U.S. Census Bureau was 86,396. , USPL is a highly integrated, nationwide processor of a wide range of products made from recycled plastic feedstocks. USPL creates high quality, competitive building materials, furnishings, and industrial supplies by processing plastic waste streams into purified, consistent products. USPL's products are environmentally responsible and are both aesthetically pleasing and maintenance friendly. They include such brand names as Carefree(R), SmartDeck(R), RecycleDesign(TM), TriMax(R), Earth Care(TM), and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and products including Cyclewood(TM). USPL currently operates eight plastic manufacturing centers. Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. When used in this press release, the words or phrases "will likely result", "are expected to", "will continue", "is anticipated", "estimate", "projected", "intends to" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to economic conditions, dependence on management, dilution to shareholders, lack of capital, changes in laws or regulations, the affects of rapid growth upon the Company and the ability of management to effectively respond to the growth, demand for products and services of the Company, newly developing technologies, its ability to compete, conflicts of interest in related party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition, and the ability of the Company to obtain additional financing. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release. Additional discussion of such factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations is contained in the Company's SEC filings. |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion