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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 1:30:00 PM
From: DD™  Read Replies (1) of 972
 
IDM Environmental In Pact To Build $22M Waste Plant

SOUTH RIVER, N.J. (Dow Jones)--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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