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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange) -- Ignore unavailable to you. Want to Upgrade?

To: MARK BARGER who wrote (1265)	12/15/1997 10:06:00 AM
From: Harry_Behemoth	Read Replies (3) \| Respond to of 2841

Monday December 15, 9:47 am Eastern Time Company Press Release American Eco Dallas Based Acquisition to Reach $50.0 Million in Energy Management HOUSTON, TEXAS--(BUSINESS WIRE)--Dec. 15, 1997--American Eco Corpora(TSE:ECX. - news; NASDAQ:ECGOF - news) Michael E. McGinnis, Chairman, President & CEO of American Eco Corporation announced the purchase of 100 percent of the shares of CCG Commercial Group, Inc., and DBA Specialty Maintenance Group Inc., (''CCG'') of Dallas, Texas. The acquisition was completed in exchange for 210,000 shares of American Eco. CCG has developed a proprietary Management Information Software system (''MIS'') which is planned to expand American Eco's Energy Management services for industrial clients. CCG also provides maintenance, and specialty construction services to its commercial & retail clients throughout Canada and the U.S.A. Major clients range from The Southland Corporation to Pier 1, Computer City, Office Depot, Toys-R-Us and National Convenience Stores. Based on current contracts and backlog, CCG revenues are expected to double to $50.0 million in 1998. C.N. ''Butch'' Jones has been appointed President of the CCG operating units of American Eco. Mr. Jones founded CCG in 1991 after a career in public accounting, serving the real estate and retail markets. He has a BBA in accounting from Texas Tech University and is a Certified Public Accountant. Michael E. McGinnis, Chairman, President & CEO of American Eco, stated, ''The specialty construction and management systems of CCG open additional opportunities for American Eco's Chempower division to accelerate our Energy Management services through new computer based MIS technologies for our family of industrial clients.'' American Eco is a leading North American provider of single-source construction, management, maintenance, engineering and environmental remediation services in the refining, petrochemical, utility, forest products and offshore manufacturing industries. --------------------------------------------------------------------------------