PDG Environmental Awarded $17.1 Million in New Contracts
PITTSBURGH, PA -- Feb. 6 2008 PDG Environmental, Inc. (OTC BB:PDGE), a leading provider of environmental remediation and specialty contracting services, today announced that it has recently been awarded contracts valued, in aggregate, at $17.1 million, all of which are scheduled to be completed by October 2008. Of the $17.1 million of new contracts, $11.8 million are for asbestos abatement and the remaining $5.3 million are for reconstruction services. The abatement projects include approximately $4.8 million of contracts with governmental and other non-profit entities and $7.0 million with private commercial entities. The projects include the removal of asbestos in structures such as auditoriums, community centers, museums, airports and retail businesses throughout the country. The reconstruction projects include restoration projects for multi-family complexes in Texas as well as reconstruction work for commercial space in Kansas.
"We are very pleased to begin our new fiscal year with positive strength in our business as demonstrated by this level of new contract awards," said John Regan, chairman and chief executive officer.
"We continue to see good demand for our abatement and reconstruction services nationwide as we focus on growing the company while improving margins."
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, FOG Environmental has offices nationwide 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:
Investor Contact:
Alliance Advisors, LLC.
Mark McPartland
Chris Camarra
(212) 398-3487
Company Contact:
John C. Regan, Chairman & CEO
Nick Battaglia, CFO
