PDG Environmental Awarded Contracts Worth $12.0 Million
PITTSBURGH--(BUSINESS WIRE)--PDG Environmental, Inc. (OTC BB: PDGE - News), a leading provider of environmental remediation and specialty contracting services, announced today that it has been awarded a number of contracts valued, in aggregate, at $12.0 million. Asbestos projects in Las Vegas, Los Angeles, and several other locations are worth approximately $5.2 million, covering a military facility, a number of stores for a national retailer, and an industrial complex. Additional asbestos and soil remediation projects - comprised of a school in California and an airport in south Florida - total another $3.4 million, while the company's mold and reconstruction businesses won contracts also worth approximately $3.4 million. These projects cover three hotels being renovated in Los Angeles as well as reconstruction work in Washington, Arizona, and Arkansas. The company expects to complete most of the work on these projects by the end of the third fiscal 2008 quarter.
"Fiscal 2008 continues to show strong demand across the board, including our traditional asbestos abatement business," said John Regan, chairman and chief executive officer. "This level of award activity, along with our commitment to right-sizing the company's overhead and increasing margins, will help in returning PDG Environmental to profitability this year."
About PDG Environmental
PDG Environmental, Inc., headquartered in Pittsburgh, PA, is a leading provider of specialty contracting services including asbestos abatement, mold remediation, emergency response, demolition and reconstruction to commercial, industrial and governmental clients nationwide. With over twenty years experience, PDG Environmental has offices nationwide capable of responding to customer requirements coast to coast. For additional information, please visit http://www.pdge.com.
Safe Harbor Statement under Private Securities Act of 1995: The statements contained in this release, which are not historical facts, may be deemed to contain forward-looking statements, including, but not limited to, deployment of new services, growth of customer base, and growth of service area, among other items. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing or other factors. Deviation may result from risk and uncertainties, including, without limitation, the Company's dependence on third parties, market conditions for the sale of services, availability of capital, operational risks on contracts, and other risks and uncertainties. The Company disclaims any obligation to update information contained in any forward-looking statement.Contact:
Investors:
Lippert/Heilshorn & Associates, Inc.
Chris Witty, 212-201-6609
cwitty@lhai.com
or
PDG Environmental, Inc.
John C. Regan, 412-243-3200
Chairman & CEO
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Source: PDG Environmental, Inc.
