Printer Friendly

INNOVATIVE ENVIRONMENTAL SERVICES LTD. ANNOUNCES LETTER OF INTENT

 VANCOUVER, British Columbia, Aug. 24 /PRNewswire/ -- Innovative Environmental Services Ltd. (Alberta: INV) announced that it has entered into a letter of intent with Scot Environmental Services International Inc. and Ms. Environmental Drilling Inc. of Houston to acquire substantially all of the assets of Scot and Ms. Scot and Ms. are engaged in the business of environmental drilling, testing and monitoring in Louisiana, Texas, and seven other southern states under the name of "Scot Environmental." Scot and Ms. own mobile drilling, rigs and other heavy equipment specially designed for monitor well drilling, large auger drilling operations, high-speed coring, conventional mud/air rotary drilling and hazardous waste drilling operations.
 IES intends to integrate the Scot business with its wholly owned subsidiary, Churchill Environmental Services Inc. of Baton Rouge, La. Churchill provides environmental remediation services and presently leases much of Scot's equipment. The acquisition of Scot will enable Churchill to provide a more fully integrated service combining both environmental monitor and test drilling with hazardous waste remediation. In acquiring the ability to conduct test and monitor drilling, Churchill will also obtain an advantage in identifying at any early stage potential contracts for the provision of its environmental remediation services.
 The parties are proceeding with a formal agreement concerning the acquisition. The formal agreement will be subject to the approval of the Alberta Stock Exchange.
 -0- 8/24/93
 /CONTACT: Geoff Trafford of Innovative Environmental Services, 604-739-9298; or Shannon Squyres of Corporate Relations Group, 714-955-1860, for Innovative Environmental Services/
 (INV.)


CO: Innovative Environmental Services Ltd.; Scot Environmental
 Services International Inc.; Ms. Environmental Drilling Inc.;
 Scot Environmental ST: British Columbia IN: OIL ENV SU: TNM


LS-JL -- LA030 -- 5541 08/24/93 15:38 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 24, 1993
Words:279
Previous Article:/C O R R E C T I O N -- EZCONY INTERAMERICA/
Next Article:'WE'RE BACK! A DINOSAUR'S STORY' TO OPEN NATIONWIDE ON NOV. 12
Topics:

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