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Microcap & Penny Stocks : IDMC Waste disposal or just garbage? -- Ignore unavailable to you. Want to Upgrade?

To: DD™ who wrote (644)	3/30/1998 10:24:00 AM
From: SIer formerly known as Joe B.	Read Replies (1) \| Respond to of 972

Wow! www1.newsalert.com biz.yahoo.com IDM Environmental Selects Caterpillar To Participate in El Salvador Power Project Business Wire - March 30, 1998 10:01 %IDM-ENVIRONMENTAL IDMC %NEW-JERSEY %ENERGY %UTILITIES %ENVIRONMENT %ENMED V%BW P%BW Jump to first matched term SOUTH RIVER, N.J.--(BUSINESS WIRE)--March 30, 1998--IDM Environmental Corp. (NASDAQ: IDMC, IDMCW) today disclosed it has selected Caterpillar Power Ventures International Ltd. and Caterpillar Power Systems Inc. -- units of Caterpillar Inc. (NYSE: CAT) -- to participate as an equity investor and lead contractor on its 45 megawatt electric generation project in El Salvador. The initial agreement provides for the purchase of a minority interest in the project by Caterpillar. In addition, Caterpillar will provide turnkey engineering, procurement and construction services as well as operation and maintenance services for the project. The estimated capital cost of the project is $56 million. The debt financing component of the project is expected to be concluded before the end of the second quarter. Construction of the power generation facility is anticipated to begin shortly after project financing has been secured. The plant is expected to be operational within 12 months after commencement of construction. Last November, IDM, through its subsidiary, entered into a 15-year power purchase agreement to provide Compania de Alumbrado Electrico de San Salvador, S.A. de C.V. (CAESS), a leading electric power distribution company, with a minimum of approximately 40 megawatts of electric power. At that time, the estimated total revenue to be derived under the agreement was $360 million. Since the signing of the agreement, the power distribution industry in El Salvador has been privatized. This could result in higher revenue on the project. The foregoing discussion contains forward looking statements which are based on current expectations. Actual results, including the timing and amount of revenues recognized, contracts awarded and performed and net income, may differ materially due to risks and uncertainties, including: continued delays in awarding and commencing contracts; delays in payment on contracts due to dealings with governmental and foreign entities; changes in accepted remediation technologies and techniques; fluctuations in operating costs associated with changes in project specifications and general economic conditions; substantial fluctuations in revenues; economics, and other conditions affecting the ability of prospective customers to finance projects; and, other risks generally affecting the time and financing of projects. IDM Environmental Corp., headquartered in South River, New Jersey, is an innovative developer of energy, turnkey environmental remediation and other projects. The company is active in the design, development and ownership of electric power production projects throughout the world, particularly in Asia, Eastern Europe, and Central and South America, utilizing over 20 years of experience in plant relocations, asset recovery, and unique technology. IDM is in the forefront in the decommissioning of nuclear power plants and is a leader in the complimentary fields of reindustrialization and revitalization. In addition, the company is active in the commercialization of its bioremediation, gasification of solid waste, and soil remediation technologies. CONTACT: BGS Associates Inc., New York Leonard Bogner, 212/593-5323 or 212/689-1214 Headlines Next Story