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Gold/Mining/Energy : Eco Logic Company ( ELI ECO ) Update -- Ignore unavailable to you. Want to Upgrade?

To: Ichy Smith who wrote (234)	3/2/1999 11:00:00 AM
From: J. Kerr	Read Replies (1) \| Respond to of 340

New Australian contract announced today: EWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: ELI ECO LOGIC INC. TSE SYMBOL: ELI MARCH 2, 1999 Eco Logic Announces PCB Destruction Contract In Australia ROCKWOOD, ONTARIO--ELI Eco Logic Inc. ("ECO LOGIC" or the "Company") (TSE-ELI) announced today receipt of a contract from Western Power (Western Australia's leading electricity supplier) for the treatment of approximately 350 tonnes of PCB-contaminated electrical equipment and 100 tonnes of other associated material. The value of this contract is in excess of (Cdn.) $2 million, and is the largest received by the Company's Australian operation. Fred T. Arnold, ECO LOGIC's Chief Executive Officer stated: "We established 1998 as the year in which our operations would cease being just the environmentally favored solution, becoming economically preferred as well. Decisions like that undertaken by Western Power are, indeed, welcome recognition of our progress to date. Their award is reflective of the high quality performance of our technology, which consistently achieves the stringent Australian "PCB-free" criteria, and the dedication of the ECO LOGIC staff in Kwinana. We will work diligently to provide the timely services that Western Power expects." ECO LOGIC has operated a commercial scale plant for PCB and other hazardous waste destruction in Kwinana, Western Australia for over three years. During this time, the Company has provided services for public and private customers, treating more than 900 tonnes of contaminated electrical equipment and high strength liquid material, including a range of pesticides. Treatment of the Western Power waste will occupy in excess of 75 percent of the Kwinana plant's capacity over the next 7 months. Mr. Andre du Plessis, the Company's manager of Australian operations, commented that the Kwinana operation had undergone significant change during 1998, which enabled it to respond affirmatively to the requirements of Western Power. "During the last year, we have systematically identified opportunities to increase plant throughput and reduce scheduled downtime, thereby providing the competitive cost basis that allowed us to win this important work. Engineering improvements and preventative maintenance schedules have provided a significant boost for plant up-time and availability, and all of our employees can be justly proud of their accomplishments." Regards. Joe