Tuesday November 16, 10:01 am Eastern Time
Company Press Release
Industrial Ecosystems, Inc. Expands into Colorado Market
BLOOMFIELD, N.M.--(BUSINESS WIRE)--Nov. 16, 1999--Industrial Ecosystems, Inc. (OTCBB: IECS - news) will be the remediation contractor for BP Amoco (NYSE: BPA - news) at their new site near Durango, Colorado. Work has started in this new region that contains approximately 540 sites with varying degrees of contamination that have been identified for cleanup.
``Estimated revenues are not available from BP Amoco but previous history in the Farmington area indicates that sites can vary from $2,500 to over $100,000 per site with the average being about $10,000. BP Amoco has not developed a complete timetable, but we have started working there and completed our first job. 'The number of sites will fully utilize our existing crews and allow us to bring new talent into the company,`` stated Jake Hatcher, General Manager of Operations.
With revenue from BP Amoco in Farmington slowing in the 3rd and 4th qtr., this new business with BP Amoco in Colorado will provide a continuing revenue stream until the Farmington area resumes remediation work in 2000. With Public Service Company of New Mexico, the State of New Mexico, and now the new Colorado region of BP Amoco, the marketing effort to diversify our customer base is beginning to show results. This growing customer base will provide for continued growth and market acceptance of our process in the Colorado, Utah, and Wyoming area that we are targeting with our sales efforts.
Industrial Ecosystems, Inc.'s (IEI) provides cleanup, remediation and reclamation of hydrocarbon contaminated soil using a proprietary microbial process.
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Contact:
IEI
Tom Jarnagin, 505/327-5570<<
It's a good release...$5.4 million in revenues over a three to four year period. It isn't manna from heaven, but money that will be earned by hard work.
Anything to keep the lights on. I see the market isn't liking it, though...we are near the all time low for this stock.
*sigh*
Rick |
