Eco didn't pay much for CCG...paying off big time:
Friday February 20, 11:18 am Eastern Time
Company Press Release
American Eco's Commercial Group Hits $24.4 Million in New Contracts and Backlog
HOUSTON--(BUSINESS WIRE)--Feb. 20, 1998--American Eco Corpora (NASDAQ:ECGOF - news; TSE:ECX. - news; BERLIN:AEOGR) Michael E. McGinnis, Chairman, President & CEO of AMERICAN ECO CORPORATION announced that its Dallas based subsidiary, Specialty Management Group, Inc. d.b.a. ''CCG'' (Commercial Construction Group) has added USD$10.7 million in new contracts to its existing contract backlog of $13.7 million. The contracts are from various commercial clients including Allstate Regional Offices, Uniglobe Travel, Petco, regional shopping centers for Shafer Properties, direct care medical facilities for The Cirrus Group, Cornerstone Business Park, Cinemark and Starplex Theaters.
CCG began building for nationally known chains such as CompUSA, BizMart, Eckerd Drugs, Chuck E. Cheese's and numerous restaurant chains including Outback and Don Pablo's. Today, CCG's focus has changed towards more full service construction management, design/build and development services. While still maintaining focus on relationships with repeat businesses, CCG is now a true outsource provider to its commercial and retail clients throughout the U.S.A.
Michael E. McGinnis, Chairman, President & CEO of American Eco, stated, ''American Eco is very pleased with the rapid uptake in new business for our specialty construction and management systems being opened by CCG since its acquisition in late 1997''.
American Eco is a leading North American provider of single-source construction, management, maintenance, specialty fabrication, engineering and environmental remediation services in the refining, petrochemical, utility, forest products and offshore manufacturing industries. |
