TELLUS INDUSTRIES COMPLETES CONTRACT WITH ENVIROPUR WASTE
TELLUS INDUSTRIES COMPLETES CONTRACT WITH ENVIROPUR WASTE CHICAGO, Sept. 15 /PRNewswire/ -- Tellus Industries, Inc.
(NASDAQ: TLLS) announced today the completion of its consulting contract with Enviropur Waste Refining and Technology, Inc. (formerly Moreco Energy, Inc.) Upon completion, Tellus was awarded its bonus payment for which Tellus chose to receive 470,000 shares of Enviropur Waste Refining and Technology common stock.
Glen Burke, Tellus president, reported that "this bonus is very significant both as the first major contract to be completed and for the major impact that the bonus payment has on Tellus' earnings. Also significant, is that through Tellus' efforts Enviropur obtained a landmark environmental settlement and release from both the United States and State of Illinois Environmental Protection Agency." Tellus began the consulting division in May 1991 and currently has four major contracts in progress. The company plans to use the additional earnings from the Enviropur stock and other bonus fees created by the financial service division to declare dividends for its shareholders. Tellus is a leader in the direct marketing of cosmetics under the Luminous label and health care products under the Tellus label. Tellus also has a financial service division specializing in consulting for companies in reorganization. For further information call Nancy Wollenburg at the number below. -0- 9/15/92 /CONTACT: Nancy Wollenberg of Tellus Industries, 708-442-6000 ext. 1210, or Howard Bronson of Howard Bronson & Company, 212-867-6160, for Tellus Industries/ (TLLS) CO: Tellus Industries, Inc.; Enviropur Waste and Refining Technology, Inc. ST: Illinois IN: SU: CON
TS-AH -- NY046 -- 9647 09/15/92 12:54 EDT
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|Date:||Sep 15, 1992|
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