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OP-TECH ENVIRONMENTAL CONSUMMATES THE RESTRUCTURING OF ITS SENIOR DEBT

OP-TECH ENVIRONMENTAL CONSUMMATES THE RESTRUCTURING OF ITS SENIOR DEBT
 SYRACUSE, N.Y., July 8 /PRNewswire/ -- Today, OP-TECH Environmental Services, Inc. (NASDAQ: OTES) has consummated the restructuring of its senior debt. OP-TECH announced it had obtained a new $2.5 million loan package from ONBANK, Syracuse, N.Y., which replaces OP-TECH's current debt facilities with a larger and more favorable line. The loan package calls for a $1,150,000 commercial mortgage loan, $850,000 term loan and $500,000 revolving creditline.
 Providing 24 hour emergency response, OP-TECH specializes in cleaning environmentally hazardous spills; tank cleaning, removal and disposal services; sub-surface investigations; ground water treatment, including aqueous treatment of petroleum-contaminated water; sludge dewatering; and hazardous substance and industrial waste transport. Services are provided in conjunction with its Syracuse, N.Y. based corporate headquarters and field operations and its Massena, N.Y. facility.
 In November 1991, OP-TECH Environmental Services, Inc., acquired selected assets of Fourth Coast Pollution Control Services, Inc., a Massena, N.Y.-based company. Major shareholders of this publicly traded company include OBG Operations, Inc. and OBG Technical Services, Inc. (O'Brien & Gere companies based in Syracuse).
 -0- 7/8/92
 /CONTACT: Richard L. Elander, president of OP-TECH Environmental Services, 315-437-6973/
 (OTES) CO: OP-TECH Environmental Services, Inc. ST: New York IN: SU: RCN


SM-OS -- NY061 -- 7552 07/08/92 16:14 EDT
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Publication:PR Newswire
Date:Jul 8, 1992
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