JWP INC. SELLS ENVIRONMENTAL UNITS TO WHEELABRATOR TECHNOLOGIES INC.
JWP INC. SELLS ENVIRONMENTAL UNITS TO WHEELABRATOR TECHNOLOGIES INC. OAK BROOK, Ill., Oct. 16 /PRNewswire/ -- Wheelabrator Technologies Inc. (NYSE: WTI) today announced it had completed the previously announced agreement to purchase four environmental businesses from JWP Inc. (NYSE: JWP) for approximately $69 million in cash. The four units are JWP's two air pollution control subsidiaries, JWP Air Technologies and JWP Amcec Corp., and two sludge pelletization projects under development in New York City and Baltimore. The planned acquisition of a fifth JWP environmental business, Enviro-Gro Technologies, a sludge-processing business, is expected to be completed by year end. JWP Inc., based in Rye Brook, N.Y., is a $4-billion technical services company with leading market positions in mechanical/electrical construction and maintenance services and computer and system integration services. Wheelabrator Technologies Inc., a multi-faceted environmental services company, is a majority-owned subsidiary of Waste Management Inc., the world's leading environmental services company. In addition to its trash-to-energy and cogeneration capabilities, Wheelabrator offers premier environmental engineering services and supplies air pollution control systems for industrial and utility applications. It also provides composting and a range of water and wastewater treatment services including sludge management. -0- 10/16/92 /CONTACT: William J. Plunkett of Wheelabrator Technologies Inc., 708-572-8898/ (JWP WTI) CO: Wheelabrator Technologies Inc.; JWP Inc. ST: Illinois IN: SU: TNM
TS -- NY009 -- 0793 10/16/92 08:46 EDT
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|Date:||Oct 16, 1992|
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