Solucorp and the Doe Run Co. Agree to Five Year Contract Extension
WEST NYACK, N.Y.--(BUSINESS WIRE)--Feb. 12, 1998--Solucorp Industries Ltd. (OTCBB:SLUP) today announced that the Doe Run Co. of Buick, Mo. is extending its contract for Solucorp's Molecular Bonding System (MBS(R)) "In-line" stabilization of the smelting facility's hazardous heavy metals waste slag through the year 2002.
This includes a minimum 25 percent increase in slag to be treated with MBS, guaranteeing continual monthly revenue to Solucorp over the term of the contract.
Solucorp's President, Peter Mantia, noted that the extension of the contract further strengthens Solucorp's ability to achieve continued, uninterrupted profitability, and confirms the proven effectiveness and cost-efficiency of MBS. He observed that a recently installed In-line system in Tennessee and current Pilot Testing preparation for two more systems will continue to add to Solucorp's profitability. These projects also attest to a growing industry belief in Solucorp's ability to provide a superior system for stabilizing heavy metals wastes, and give credence to the company's goal to bolster profitability by installing In-line systems to meet the daily need for hazardous waste management by multi-industry companies.
"Highly professional, industry-wise companies such as Doe Run are aware that the U.S. EPA is planning to implement new, more stringent requirements for treating heavy metals with the introduction of Universal Treatment Standards (UTS) criteria, and MBS is proven to meet those standards while remaining highly cost-competitive. Given recent public acknowledgement of MBS by the U.S. EPA and British Columbia's Ministry of Environment, Solucorp now has the strongest regulatory credentials to support penetration of the North American "In-line" market segment of about 2000 facilities," Mantia said.
Headquartered in West Nyack, N.Y., with offices in Canada, China and the U.K., Solucorp Industries focuses on the development and global marketing of products which solve the needs of environmental markets. The company's Molecular Bonding System is a U.S. EPA-approved Superfund Innovative Technology, after being demonstrated and proven to be a permanent, cost-efficient solution for stabilizing heavy metals in soils and wastes. -0- 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.
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CONTACT:
Martin E. Janis & Co. Inc., Chicago
Bev Jedynak, 312/943-1100
or
Solucorp Industries Ltd., West Nyack
Brian Binckes, 888/SOLUCORP (76582677) |
