PDG Environmental Announces New Contract Awards Valued at $10 Million
PITTSBURGH--(BUSINESS WIRE)--July 25, 2006--PDG Environmental, Inc. (OTC BB: PDGE - News), a leading provider of environmental remediation and specialty contracting services, today announced it has been awarded nine contracts for reconstruction, interior demolition, asbestos abatement and related services worth, in aggregate, $10 million. This includes three job order contracts from a Southern California school district valued at up to $4.5 million for general construction, renovation and water intrusion mitigation services, initially for a one-year term with an option to be extended. The company was also awarded reconstruction contracts worth $2.1 million for an apartment complex in Florida and a military installation in Mississippi, along with asbestos abatement contracts for industrial, commercial, and transportation facilities in Los Angeles, Rochester (New York), Pittsburgh, and New York City. All awards, with the exception of the California school district, are expected to be completed within the next three months.
"We are extremely pleased with the projects won in the company's fiscal second quarter, particularly within the fields of reconstruction and mold remediation," commented Chairman and Chief Executive Officer John Regan. "While our asbestos business remains solid and is back operating at normal margins, our growing presence in reconstruction has positioned us well as the hurricane season gets underway. There remain a significant number of contracts still pending from last year's hurricanes, and we view the remainder of 2006 as offering many opportunities for PDG Environmental."
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 18 offices capable of responding to customer requirements coast to coast. For additional information, please visit 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 or Jody Burfening
(212) 201-6609
cwitty@lhai.com
or
PDG Environmental, Inc.
John C. Regan
(412) 243-3200
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Source: PDG Environmental, Inc.
