Wednesday August 27 12:27 PM EDT
Company Press Release
Solucorp Introduces New Soil Remediation Technology In
Canada
Management Targets $60 Million In Revenues In First 24 Months
From This
Product Alone
WEST NYACK, N.Y.--(BUSINESS WIRE)--Aug. 27,1997--Solucorp
Industries Ltd.
(OTCBB:SLUP) announced today that its newly formulated and patent
pending MBS (3000)
Soil Remediation Process, enables the company to compete for the
first time in the $600
million annual ``in-situ'' remediation market.
According to Peter Mantia, Solucorp President, ``Our new MBS
(3000) Soil Remediation
Process is clearly the most cost effective, permanent solution to a
hazardous metals
problem. We are realistically targeting 5% of this market, or $60
million in revenues in the
next 24 months from this product alone. We will, of course, in order
to achieve this goal
need to tap into the existing environmental pool of accomplished
clean-up firms via
licensing and joint-venture relationships.''
Under terms of an agreement signed with Mid Canada Soil Treatment
Ltd., Winnipeg,
Solucorp will commence full scale remediation of chromium
contaminated soil. In addition to
the fact that this will be the first application of the new MBS (3000)
technology, it also
represents Solucorp's first full-scale commercial clean-up in Canada.
The MBS (3000) process is applied directly (in-situ) to contaminated
soils and sludges,
eliminating costly excavation and processing associated with soil
removal from the ground
prior to treatment.
The MBS (3000) technology adds to Solucorp's hazardous soil
remediation arsenal, which
already includes the MBS(R) ``ex-situ'' hazardous soil remediation
process which was
proven effective in the EPA's Superfund Innovative Technology
Evaluation (SITE) program.
Headquartered in West Nyack, N.Y., Solucorp Industries develops
products for
environmental markets, with specific focus on solving the problem of
heavy metals
contamination. The company's patent-pending MBS process has
been acknowledged as an
innovative and cost-efficient solution for remediating heavy metals in
soil and industrial slag,
sludge and ash.
The foregoing discussion contains forward-looking statements which are based on current
expectations. Actual results, including the timing and amount of revenues recognized,
contracts awarded and performed and net income, may differ due to such factors as: delays
in payment on contracts due to dealings with governmental and foreign entities; fluctuations
in operating costs associated with changes in project specifications; economic and other
conditions affecting the ability of prospective clients to finance projects; and other risks
generally affecting the financing of projects. |
