ENVIRO-ENERGY CORPORATION SUBSIDIARY, ENVIRONMENTAL RECLAMATION, INC., RELEASES 2002 BUSINESS OUTLOOK BUSINESS EDITORS SMELTERVILLE, IDAHO--(BUSINESS WIRE)--FEB. 5, 2002--ENVIRONMENTAL RECLAMATION,
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10:30 ET SMELTERVILLE, Idaho--(BUSINESS WIRE)--Feb. 5, 2002--Environmental
Reclamation, Inc., (ERI) a subsidiary of Enviro-Energy Corporation
(OTCBB:ENGY.U)(Germany:676401-EVM.BER) today released their backlog for
2002 with upgraded estimates for the year.
"Current backlogs and 'in hand' contract activities are expected
to generate a minimum of $11,850,000 for the calendar year 2002, a
decided increase over last year at this time," states Donald Tulloch,
President of ERI. "We are pleased with this opening position for the
year as experience has shown that we can leverage into much higher
performance as the year progresses.
"We have a number of exciting opportunities ahead of us, both in
Europe and the United States, which are not part of this backlog. In
addition, the acquisition of Colvico, Inc. by our sister company,
Energy Flow Management, Inc. will establish new markets for ERI's
environmental expertise.
"This year we also expect to benefit from our preparatory work in
Nevada and Arizona, providing the company with ongoing business
through the traditionally slow winter months. The extra work should
significantly increase revenues and profits as we allocate normally
idle resources to these southern markets for winter work. We will also
focus on work to come from the Federal Government's expanded support
for Brownfield clean up and remediation.
"With evidence of increased activity by the Environmental
Protection Agency (EPA), Department of Energy (DOE) and other major
clients of our company, we expect 2002 to show strong improvement in
both revenue and margins, thereby contributing to the next round of
growth for Enviro-Energy Corporation."
Enviro-Energy Corporation is a consolidator and operator of
environmentally related businesses. Acquisitions and internal growth
focus on energy, air, and water sectors. The Company expects to
sustain growth through its aggressive roll up strategy, internal
synergies and the deployment of its ENVIRO-ENERGY(TM) systems
throughout the world.
Forward-looking statements in this release are made pursuant to
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such forward-looking
statements involve risk and uncertainties, including without
limitation, continued acceptance of the company's products, increased
levels of competition for the company, new products and technological
changes, the company's dependence on third party suppliers,
intellectual property rights and the other risks detailed from time to
time in the company's periodic reports filed with the Securities and
Exchange Commission Fair Disclosure Regulation, effective, October
2000.
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