WasteMasters Inc. Subsidiary retains Engineeering Firm of Coal-Tec Inc.Business Editors EL RENO El Reno (ĕl rē`nō), city (1990 pop. 15,414), seat of Canadian co., central Okla.; inc. 1889. In an agricultural area (wheat, cattle, dairying), the city also has diversified industry (aircraft and oil-field services, and the manufacture , Okla.--(BUSINESS WIRE)--Dec. 19, 2000 WasteMasters Inc.'s (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :WAST) 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. Appalachia Environmental Recovery Inc. ("AERI AERI Alberta Energy Research Institute (Canada) AERI Atmospheric Emitted Radiance Interferometer (University of Wisconsin, Madison; Space Science and Engineering Center) AERI Advanced Environmental Research Incorporated ") has retained the services of Coal-Tec Inc. a full-service engineering and construction firm dedicated to coal waste cleanup and land reclamation Land reclamation is either of two distinct practices. One involves creating new land from sea- or riverbeds, the other refers to restoring an area to a more natural state (such as after pollution or salination have made it unusable). . AERI recently broke ground on the first of five plants, which will process coal fines left behind by previous mining operations and sell them as an alternative fuel to utility companies. Coal-Tec's management team brings to the table a combined sixty years of engineering, operations and administrative responsibilities totaling an average of $65 million annually in the engineering and construction field. "We are pleased to retain the services of a firm with the industry experience and expertise that the Coal-Tec team can deliver," said AERI COO John B. Callagher. "This is truly a unique situation where industry and environmentalists have the same goal--cleaning up the environment." Will Turner President of Coal-Tec said, "I welcome the challenge presented to us by AERI management to assist in the cleaning up of coal waste left behind by previous mining operators and returning the land back to its original purpose." Coal-Tec will be responsible for surveying, site development, construction, project management and will supply all of AERI's transportation needs. Every phase of the company's work will emphasize environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] methodologies. WasteMasters collects and landfills waste primarily through its operations in Pennsylvania and Ohio. Its subsidiaries process waste products into alternative fuels. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the 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: The statements contained in this news release which are not historical facts may be "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe WasteMasters' hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond WasteMasters' control, will affect actual results. WasteMasters undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with WasteMasters' annual report on Form-10-KSB for the fiscal year ended Dec. 31, 1999 and other filings with the U.S. Securities and Exchange Commission by WasteMasters. |
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