To All:
The press release is out (good call on the date Al) here it is
Tuesday December 16, 6:57 am Eastern Time
Company Press Release
Industrial Ecosystems Inc. Announces the Opening of the First Recovered Organics Plant and Enters Into the 5th Year of Amoco Clean Up Contract
PACIFICA, Calif.--(BUSINESS WIRE)--Dec. 16, 1997--Industrial Ecosystems Inc. (OTC BB:IECS - news) is pleased to announce today that the first Recovered Organic Products (ROP)Plant located in Amherstburg, Ontario, Canada began operations this month.
The Recovered Organic Products (ROP) Division takes organic food waste and reprocesses it into animal feed ingredients. The ROP Division has taken years of research and spent millions of dollars to develop its unique program.
COO, Gerard Amlin, stated, ''We are so enthused with our initial operations, and interest from potential customers that we are forging ahead with plans to expand to multiple sites. Our Amherstburg plant should produce in excess of $6 million in revenue. This will equate to
approximately $.10 - .12 per share pre tax earnings on the Amherstburg plant alone.
''Our goal is to build over 15 plants by the year 2000 and one plant per month thereafter and that is just the North American market.''
The Cleanup, Reclamation and Remediation (CRR) Division is equally as pleased to announce that it has entered into its fifth year of providing clean up services for Amoco Oil. The contract has
produced over $4 million in revenue, cleaned up over 400 sites and garnered an environmental award for both Amoco and IEI. IEI's proprietary technology has been so effective that it has been
featured in the Oil & Gas Journal as well as Civil Engineering.
IEI's CEO, Walter Kolbe, stated, ''We are expecting our busiest year ever with Amoco in 1998. In addition, we have plans to aggressively expand our cleanup technology into new areas. We are currently performing work in India under a strategic alliance with Tetra Tech and this is just the tip of the iceberg.'' The Amoco work alone should generate in excess of $.02 per share to the bottom line in 1998.
Let's all hope the .10-.12 per share earnings come through as predicted, if so we have a winner.
wade brown |
