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Technology Stocks : CET Environmental Services, Inc (ENV)-What a future

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To: Paul Lee who wrote ()4/26/2000 3:27:00 PM
From: Paul Lee   of 50
 
CET Environmental Services, Inc. Introduces Cleanwater Contracting, Inc. New Subsidiary to Service the Water and Wastewater Industry

ENGLEWOOD, Colo., April 26 /PRNewswire/ -- CET Environmental Services, Inc. (Amex: ENV) announces it has commenced operations of its water and wastewater division -- Cleanwater Contracting, Inc.

Cleanwater's services include preventative, corrective, replacement and emergency maintenance for water and wastewater treatment facilities, industrial wet/dry vacuuming, and cost-effective construction of full-scale facilities, including installation of off-the-shelf systems and retrofitting existing systems.

Cleanwater works closely with operations and engineering firms as well as utility, special districts and private sector clients. Cleanwater provides flexibility to meet specific requirements and budget constraints by offering cost-effective maintenance, repairs, industrial vacuuming and construction services as an outside contractor. Cleanwater offers full or part-time onsite maintenance personnel on an emergency or contract basis.

Steve Davis, CEO and President, said, "This is an exciting time for Cleanwater and CET. The additional channels of business Cleanwater brings is expected to provide CET with new business and growth opportunities. This is another step in positioning our company at the forefront of the environmental industry and increasing shareholder value."

In other business, the Company was recently informed by the Environmental Protection Agency (EPA) that novation of existing CET ERRS West contracts to IT Corp. was not in the best interest of the Government and therefore declined. CET will continue to perform services for the EPA. Recently, the EPA has released additional delivery orders for CET that we believe will allow us to become profitable with this segment of our business.

CET conducts business in four primary areas: government programs, industrial services, water / wastewater construction and maintenance and its newly-formed Engineering and Construction Group. The Company provides a broad range of expertise in technology-based environmental services for both the public and private sectors throughout the United States.
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