CET Environmental Services, Inc (ENV)-What a future Message Board

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Technology Stocks : CET Environmental Services, Inc (ENV)-What a future

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To: Paul Lee who wrote ()	7/16/1998 1:16:00 PM
From: Paul Lee	of 50

Water Treatment Subsidiary Reports Major Project Milestones CET Environmental Services, Inc. Retains Sanders Morris Mundy ENGLEWOOD, Colo., July 16 /PRNewswire/ -- CET Environmental Services, Inc. (Amex: ENV) announced today that it has retained the investment banking firm of Sanders Morris Mundy to assist CET in exploring acquisition and divestiture strategies, including further expansion into the water and wastewater treatment market. CET's CEO Steven H. Davis commented, "Management has committed to repositioning the company to take advantage of the growing and profitable water and wastewater treatment sectors. We've increased this segment of our revenue mix by 300 percent and have attained profitability three of the past four reported quarters. Our focus in developing a relationship with Sanders Morris Mundy is to maximize shareholder value by more aggressively implementing growth in the water treatment marketplace where we have attained higher and more predictable margins." Davis said that CET's wholly owned subsidiary Water Quality Management, Inc. (WQM) is achieving major milestones on several of its important water treatment projects. "We are only a month from the startup of a $7 million wastewater treatment system constructed for a major food processor in the Midwest," he said. "This represents WQM's first design, build and operate contract of this type and is an excellent example of how industrial outsourcing can benefit both the industrial client and the engineer/contractor." "Construction is also underway on the Keystone municipal wastewater treatment system in South Dakota -- that state's first privatized system," he added. In addition to these projects, Davis reported that WQM is actively involved with water rights leasing and management and is aggressively pursuing large municipal and industrial privatization and outsourcing projects throughout the western U.S. CET currently conducts business in three primary areas: water/wastewater treatment, industrial services, and government programs. The Company provides a broad range of expertise in technology-based environmental services for both the public and private sectors throughout the United States.

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