HOUSTON--(BUSINESS WIRE)--May 8, 1998--American Eco (TSE:ECX - news; NASDAQ:ECGOF - news; BERLIN:AEOGR) Michael E. McGinnis, Chairman, president & CEO of AMERICAN ECO CORPORATION announced the receipt of a Cdn$65.0 million gas pipeline construction contract from TransCanada PipeLines Limited of Calgary, Alberta.
The contract is for 54 miles of 42'' high-pressure pipe for the southern and eastern Ontario region.
American Eco is a 51 percent joint venture partner with the Steen Contractors Limited subsidiary of Dominion Bridge Corporation [Nasdaq:DBCO - news], Deere Park Capital Management, L.L.C. and Deere Park Capital Management Inc. American Eco, a 6.7 percent shareholder of Dominion Bridge, indicated that it is providing bonding and fabrication for the project.
''We are pleased that the financial strength of American Eco has enabled us to secure this gas pipeline order for the benefit of the joint venture companies,'' McGinnis, stated. ''The companies view this contract as a prototype for future cooperative efforts.''
American Eco is a leading North American provider of single-source construction, management, maintenance, specialty fabrication, and engineering services in the refining, petrochemical, utility, forest products and offshore manufacturing industries.
--------------------------------------------------------------------------------
Contact:
American Eco Corporation - Houston, Texas
Bruce Tobecksen, 888/774-3246
www.americaneco.com
|
