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Microcap & Penny Stocks : IDMC Waste disposal or just garbage?
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To: SIer formerly known as Joe B. who wrote (580)3/5/1998 1:29:00 PM
From: SIer formerly known as Joe B.   of 972
 
March 5, 1998
IDM Environ - Plant -2: Affiliate
To Hold 40% Interest

Dow Jones Newswires

SOUTH RIVER, N.J. -- IDM Environmental Corp.'s
(IDMC) IDM Asia affiliate and Five-Nines Technology
Co., a Taiwanese waste management company, signed
an agreement to develop an industrial waste processing
and energy production plant in Taipei costing about $22
million.

In a press release Thursday, IDM Environmental said
the 100-tons-a-day plant will be funded through
conventional non-recourse project financing.

IDM Asia expects to have at least a 40% interest in the
plant.

IDM Asia expects its share of potential pretax profit
from the plant to be about $1.5 million to $2 million a
year for the first three years of operation, with
"substantial increases expected as the project matures."

IDM Asia estimates revenue from the plant, over a
20-year period, of more than $170 million. In the first
three years of operation, IDM Asia expects the plant's
annual revenues to be more than $6 million.

The company expects the plant to be operational in the
next 12 months.

IDM Environmental is a specialty contractor and
provider of services and technology in the areas of
environmental remediation, plant decommissioning and
industrial plant relocation.
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