Printer Friendly

OP-TECH ENVIRONMENTAL SERVICES, INC. PRESIDENT RICHARD L. ELANDER ACQUIRES 11.8% OF THE COMPANY'S COMMON STOCK

 SYRACUSE, N.Y., Jan. 11 /PRNewswire/ -- OP-TECH Environmental Services, Inc. (OTC Bulletin Board: OTES) today announced that its president, Richard L. Elander, purchased 11.8%, or 353,141 shares, of the company's common stock from J. Richard Mayette, a director of OP-TECH and former owner of Fourth Coast Pollution Control, Inc. In November of 1991, OP-TECH acquired selected assets of Fourth Coast.
 The stock purchase makes Mr. Elander the second-largest shareholder of the company. O'Brien & Gere Limited, the largest shareholder of OP-TECH, owns 46.6%, or 1,397,059 shares. O'Brien & Gere Limited is a nationally recognized consulting engineering firm with 26 offices located across the United States.
 Richard Messina of Summit Capital Associates, Inc., financial advisors to OP-TECH, viewed the transaction as "very bullish." "Any time you have insider buying of this magnitude, it can say a great deal about management's perception of the company and the direction in which it is going. The company has been tracking at a high double-digit growth rate and should have the ability to sustain this pace in the near term."
 OP-TECH Environmental Services, Inc. specializes in handling environmentally hazardous spills; tank cleaning, removal and disposal services; subsurface investigations; ground water treatment including aqueous treatment of petroleum-contaminated water; sludge dewatering; asbestos removal; and hazardous substance and industrial waste transportation.
 The firm began its first full year of operation in 1992 and currently has offices in Massena, Watertown, Rochester and Syracuse, N.Y. and Cornwall, Ontario.
 -0- 1/11/94
 /CONTACT: Richard Messina of Summit Capital Associates, 212-308-4155/
 (OTES)


CO: OP-TECH Environmental Services, Inc. ST: New York IN: ENV SU:

SH-JG -- NY037 -- 0962 01/11/94 11:37 EST
COPYRIGHT 1994 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1994 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 11, 1994
Words:275
Previous Article:GRANDMET'S IDV SECURES EXCLUSIVE DISTRIBUTION OF STOLICHNAYA VODKA IN THE USA AND MEXICO
Next Article:IMS AMERICA FIRST TO MARKET WITH PRESCRIBER-LEVEL MANAGED HEALTH CARE INFORMATION SERVICE
Topics:

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