SERVICE SECTOR / Dominion Bridge And American Eco Enter Into Exclusive
Acquisition Discussions
DOMINION BRIDGE CORPORATION
VSE SYMBOL: DMO.U
NASDAQ SYMBOL: DBCO
AND AMERICAN ECO CORPORATION
TSE SYMBOL: ECX
NASDAQ SYMBOL: ECGOF
FEBRUARY 9, 1998
Dominion Bridge And American Eco Enter Into Exclusive
Acquisition Discussions
MONTREAL, QUEBEC and TORONTO, ONTARIO--Dominion Bridge Corporation
and American Eco Corporation, jointly announced that they have
entered into exclusive negotiations for, among other things, (i)
the private placement of USD$5.0 million of Dominion Bridge
securities to American Eco; (ii) a USD$25.0 million interim credit
facility from American Eco; and (iii) the acquisition of Dominion
Bridge by American Eco. The exclusivity period expires at 5:00
p.m. Montreal time on Thursday, February 12th. The terms of
their agreement will be announced once discussions are completed.
A spokesperson from Dominion Bridge said that the previously
announced private placement of its securities to Sanda Investment
Group has been put on hold pending the outcome of the discussions
with American Eco.
Dominion Bridge was established in 1879. The company is active in
the international engineering and infrastructure markets. It
manages projects and operates facilities in North and South
America, Europe and the Asia Pacific.
American Eco is a North American provider of single-source
construction, management, maintenance, specialty fabrication,
engineering and environmental remediation services in the
refining, petrochemical, utility, forest products and offshore
manufacturing industries. |
