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Gold/Mining/Energy : KERM'S KORNER

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To: SofaSpud who wrote (11319)	6/18/1998 9:34:00 PM
From: Herb Duncan	Read Replies (1) of 15196

SERVICE SECTOR / Newalta Acquires Oilfield Waste Management Facilities TSE SYMBOL: NAL JUNE 18, 1998 CALGARY, ALBERTA--NEWALTA CORPORATION (NA - TSE) announces that it has signed an agreement to purchase oilfield waste management facilities in Drayton Valley and Zama, Alberta from Byram Industrial Services Ltd. These are well managed, established and profitable operations with distinct market positions which complement the Company's network of facilities in Western Canada. Management expects integration of these operations to be complete by year-end. Additional services will be introduced at these facilities in 1999. The acquired operations are expected to increase revenues by approximately $10 million and have an immediate positive impact on earnings. The acquisition will be funded from the Company's credit facility and closing is anticipated on July 31st, 1998, subject to regulatory approvals and due diligence. Newalta is western Canadian waste management company.

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