ACAP Wins 2,600,000 Contract
AMCOR Capital Corporation Shareholder
Services NEWS RELEASE
1600 Washington Street, Stoughton, MA 02072
AMCOR Capital Corporation Subsidiary Wins New Contracts Valued At
$2,600,000
Coachella, California (Thursday, March 12, 1997) AMCOR Capital
Corporation ("AMCOR" or "the Company", NASDAQ: ACAP) is pleased to
announce that its subsidiary, TransPacific Environmental, Inc. ,has been
awarded contracts with the cities Santa Clarita and Anaheim, in southern
California valued in excess of $2.6 million.
The Company now has an $8.4 million backlog in its newly acquired
biomass and tree maintenance subsidiary.
Previous awards have included the Cities of Los Angeles, San Diego's
Unified Port District, San Fernando, Simi Valley, Laguna Niguel and
Encinitas as well as the Counties of Riverside, San Bernardino and Los
Angeles. Bids are currently being prepared on an additional $4.5
million of business to be awarded during the current fiscal year.
TransPacific, based in Santa Fe Springs, California was acquired in
November 1997 as part of AMCOR's planned expansion of its biomass "green
waste" recycling business.
AMCOR sees a rapid growth in its biomass division, over the next three
years, significantly influenced by two emerging national trends. 1.
California's Integrated Waste Management Act of 1989 mandates the
diversion of 50% of all waste materials (of which over 28% is organic
green waste) away from local landfills by the year 2000. 2.
Privatization of in-house tree maintenance and green waste operations by
municipalities, counties and the State.
AMCOR has three operating divisions: a fully integrated agricultural
division, which produces over 150 million pounds of food products
annually in California and Oregon; a real estate development division
which manages a portfolio of development properties in California and
Texas and; a biomass division which is engaged in green waste recycling
and municipal, county and State tree maintenance/management in
California.
AMCOR maintains a presence on the Internet at
amcorcapital.com.
This release contains ''forward-looking statements'' that state the
Company's, or management's intentions, hopes, beliefs, expectations or
predictions of the future. These statements, are subject to risks,
including risks outside the Company's control, that could cause results
to vary materially from the statements set forth herein.
/For further information contact:
AMCOR Capital Corporation
Fred H. Behrens, Chairman (760) 398-9520
Barry Goverman, Amcor Shareholder Services (781) 341-1348
E-mail: bgoverman@worldnet.att.net
Overseas Investor Relations, Jacques Genicot (U.S.
Access)+1+760 630 7472 |
