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METALCLAD CORP. ANNOUNCES ORGANIZATION OF A THIRD JOINT VENTURE

 METALCLAD CORP. ANNOUNCES ORGANIZATION OF A THIRD JOINT VENTURE
 ANAHEIM, Calif., April 20 /PRNewswire/ -- Metalclad Corp. announced the organization of a third joint venture corporation in Mexico known as Eliminacion de Contaminantes Industriales, S.A. de C.V., bringing the number of joint venture Mexican corporations to pursue its toxic and hazardous waste treatment business to three. The joint venture corporations are located in the states of San Luis Potosi, Veracruz and Tamaulipas. The sites for the development of waste disposal facilities have been acquired in the states of San Luis Potosi and Veracruz and a site is being acquired in Tamaulipas. State-level approval for the construction of those facilities on all three sites has been granted. Application for a permit to construct from the Secretary of Urban Development and Ecology (SEDUE) has been made for the sites in Veracruz and Tamaulipas; a permit to construct for San Luis Potosi was granted in 1991.
 The company announced a continuation of its work with Molten Metal Technology of Cambridge, Mass. (MMT) under a program plan for 1992 and 1993 that contemplates the design and development of a prototypal plant to be constructed on all the sites acquired in Mexico. The first phase of the first plant is expected to be complete in 1992.
 The company is also is discussion with MMT about joining DuPont and others in the development of a research, testing and training facility to be built in Fall River, Mass.
 The company also announced it intends to form an operating company, as a wholly owned subsidiary of the company, that will contract with the Mexican corporations to operate each facility built for a fee that the company anticipates will equal 6 percent of the gross revenues of each facility plus costs actually incurred in the facility's operation. The company is conducting an executive search within the hazardous waste processing industry for experienced management and scientific personnel. The company plans to hire a chief executive officer and two scientists who would receive initial training in Houston at an existing demonstration plant which utilizes the MMT technology, and further training at the Fall River facility before going to Mexico to train additional people in preparation for operating plants within the nation of Mexico.
 It is expected that each facility will be accomplished in at least four phases. The first phase of each facility would consist of a treatment facility capable of processing wastes in the form of liquids, gases and sludges -- the most plentiful and easiest forms of waste which also yield the highest processing price per pound. Subsequent phases would include the development of feed systems for wastes in the form of solids and tars -- forms of waste that are more difficult to process and for which MMT is still developing and testing processing methods. The company believes that phased development provides for the strongest entry into the market, enabling facilities to be built at multiple sites located strategically around the country of Mexico.
 -0- 4/20/92
 /CONTACT: Elgin Williams (investors) or Grant S. Kesler, president, 714-634-9050, of Metalclad; or Bruce H. Haglund, Esq., 714-752-6100, for Metalclad/ CO: Metalclad Corp. ST: California IN: SU: ERN


EH-CH -- LA027 -- 0186 04/20/92 15:37 EDT
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Publication:PR Newswire
Date:Apr 20, 1992
Words:536
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