Printer Friendly

RUST INTERNATIONAL COMPLETES TENDER OFFER FOR ENCLEAN SHARES

 BIRMINGHAM, Ala., and HOUSTON, Aug. 9 /PRNewswire/ -- Rust International Inc. (NYSE: RST) and EnClean, Inc. announced today that a wholly owned subsidiary of Rust has concluded a tender offer for shares of EnClean common stock.
 The companies said that the Rust subsidiary has accepted for payment approximately 5,721,000 shares, which represents 96.7 percent of EnClean's outstanding shares of common stock, at $6.75 per share. As previously announced, Rust has agreed, subject to certain conditions, to acquire the remainder of the outstanding shares of EnClean for $6.75 per share in cash in a transaction in which its subsidiary will be merged into EnClean. The merger is expected to be completed during the third quarter.
 EnClean also announced that Malcolm Waddell, Tim Tarrillion, John Matson and Tom Delimitros are resigning from its board of directors and are to be replaced by Victor J. Barnhart, Harold W. Ingalls, Rodney C. Gilbert and Thomas W. Wright, all of whom are officers of Rust.
 EnClean provides a broad range of industrial and environmental services to companies primarily in the refining, petrochemical, chemical, pulp and paper, food processing, utility and gas processing industries.
 Rust International Inc. is a leading provider of engineering, construction, environmental and infrastructure consulting, environmental restoration and other on-site industrial and related services.
 -0- 8/9/93
 /CONTACT: Harold W. Ingalls (analysts), 708-947-3502, or Bob Reincke, 708-218-1670, both of Rust International Inc., or Malcolm Waddell of EnClean, 713-661-4777/
 (RST)


CO: Rust International Inc. ST: Alabama IN: SU: OFR

MP -- NY026 -- 0682 08/09/93 10:44 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 9, 1993
Words:259
Previous Article:THE MAY DEPARTMENT STORES COMPANY REPORTS SECOND QUARTER EARNINGS OF $.44 PER SHARE
Next Article:SOCO MAKES $30 MILLION OF ACQUISITIONS
Topics:

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