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METALCLAD CORP. AND A MAJOR MULTINATIONAL CORPORATION EXPLORE JOINT VENTURE

 NEWPORT BEACH, Calif., May 10 /PRNewswire/ -- Metalclad Corp. of Newport Beach (NASDAQ: MTLC) announced today that it has entered into a detailed letter of understanding with a major multinational corporation relating to Metalclad's operations in Mexico. This letter of understanding contemplates a 50-50 joint venture between the parties for the development, construction and operation of multiple hazardous waste recycling, treatment and disposal facilities in Mexico. Subject to the successful conclusion of due diligence, the companies expect to execute a definitive agreement within the next several months. Metalclad, through a Mexican subsidiary, is in the process of developing a major fully integrated hazardous waste recycling and treatment complex in Mexico.
 Other news announced by Metalclad's Chief Executive Officer, Grant S. Kesler, includes its receiving authorization from the National Institute of Ecology in Mexico to proceed in the permitting process of two additional facilities. This authorization is for the development of Environmental Impact Statements and Risk Assessments for these two additional facilities.
 Metalclad provides insulation installation and asbestos abatement services to major industrial facilities and power generating stations on the West Coast. Internationally, Metalclad and Mexican companies are developing a number of fully integrated waste treatment centers and providing environmental management consulting services to government and private industries throughout Mexico. The treatment centers utilize the latest technologies for rotary kiln incineration, secure landfills, metals recovery and inorganic waste processing.
 -0- 5/10/93
 /CONTACT: Grant S. Kesler, president and CEO, or Elgin Williams, investment relations, of Metalclad, 714-476-2772; or Bruce H. Haglund, Esq., 714-752-6100, for Metalclad/
 (MTLC)


CO: Metalclad Corp. ST: California IN: ENV SU: JVN

BP-MS -- LA008 -- 6522 05/10/93 13:01 EDT
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Publication:PR Newswire
Date:May 10, 1993
Words:273
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