Environmental Safeguards Subsidiary Signs Alliance With Onyx Environmental Services
new.stockwatch.com 2003-02-18 09:41 EST - News Release
HOUSTON, Feb. 18 /PRNewswire-FirstCall/ -- Environmental Safeguards, Inc. (BULLETIN BOARD: ELSF) announced today that its wholly owned subsidiary OnSite Technology LLC ("OnSite") has entered into a global alliance with Onyx Environmental Services, L.L.C. ("Onyx"). OnSite and Onyx will each assist one another as preferred suppliers and jointly bid on projects that may utilize the services, expertise, or equipment of each party.
OnSite's patented ITD technology uses a heat jacketed rotating chamber that vaporizes hydro-carbons and hydrocarbon derivatives from contaminated materials, and a condenser that liquefies the vapor into hydrocarbon liquids of better than 99% purity, for reuse. A single ITD unit can process one to 10 short tons of waste per hour, depending on its content. In addition to the United States, soil remediation and hydrocarbon recycling operations have been successfully conducted in Mexico, Colombia, Venezuela, Scotland and the U.A.E. Since becoming fully operational six years ago, the Company has processed more than 750,000 tons of contaminated waste, recovering in excess of 15 million gallons of hydrocarbon fluids. More information on OnSite can be found at www.onsite2.com .
Onyx is a worldwide supplier of environmental services to the petrochemical, refining, and manufacturing industries. OES's web site is located at www.onyxes.com .
James S. Percell, chairman and CEO of Environmental Safeguards stated "This alliance is a win-win deal for all parties involved. It expands Environmental Safeguards' global market presence and allows us access to the expertise of Onyx and its many global clients. It also gives OES an exciting new line of services to add to its repertoire."
The Forward Looking Statement or Projections contained herewith involve risk and uncertainties which could cause actual results or outcomes to differ materially from those expressed, and accordingly should be read in conjunction with the Company's 10K for the year ending December 31, 2001 with particular reference to Information Regarding and Factors Affecting Forward Looking Statements in the Management Discussion and Analysis of Financial Condition and Results of Operations. Environmental Safeguards, Inc.
CONTACT: R.F. Hengen, +1-908-508-9000, for Environmental Safeguards, Inc.; or James S. Percell, President of Environmental Safeguards, Inc., +1-713-641-3838
Web site: www.onyxes.com www.onsite2.com