American Eco (ECGOF, ECX on Toronto exchange) Message Board

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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)

ECX 1.705

-5.3%

3:31 PM EST

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To: Charles A. King who wrote (2197)	3/22/1998 8:16:00 PM
From: david james	Read Replies (2) of 2841

It will be interesting to see if Eco is treated like an energy stock tomorrow. Looks like the market as a whole could get interesting with a divergence of the energy stocks from the rest of the market. Message 3800470 I am still trying to figure out why the MART sale is not a one time gain. The equipment as described below in the 10k, sounds very much like equipment that SRS has set up in Saudi Arabia, Venezuela, and the Total refinaries in France. It could be that these too will be sold at some point in 1998- hopefully realizing a similar gain. I am not certain how such sales will be labeled, but I doubt they will be described as one time gains. I believe that MM Industra has only recently begun building this equipment (it was outsourced before), so I assume that margins on these sales will improve. We have still not heard how happy the French, Saudis or Venezuelans have been with this equipment and the French system was originally portrayed as a trial with possible expansion into the rest of Europe. David From the 10k "In November 1997, the Company sold its 50% ownership in MART to a third party for $14.0 million, payable quarterly over five years with interest at 10% per annum. During fiscal 1997, two of the Company's subsidiaries (SRS & United Eco) sold equipment and provided services to MART. SRS sold to MART equipment for $4.0 million and United Eco provided construction, maintenance and operation services for approximately $6.6 million. MART is a state of the art thermal treatment facility which treats soils, sediments and other materials contaminated with hazardous and non-hazardous chemicals. The Consolidated Statement of Income includes revenue and direct costs of $24.6 million and $14.4 million, respectively resulting from these transactions."

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