BURLINGTON, ON, April 4 /CNW/ - Environmental Management Solutions Inc.
(TSX: EMS), Canada's leading integrated environmental services company,
announced today that shareholders will be asked to approve a new name for the
Company at the Annual Meeting on April 20, 2007.
The proposed corporate name is EnGlobe Corp. which was chosen from
suggestions by the Company's employees. The Company will also seek approval
for a new trading symbol on the Toronto Stock Exchange: "EG".
"EnGlobe captures the direction of our Company as a leading environmental
company operating across Canada, in the United States, and in Europe with our
industry-leading soil treatment facilities in the United Kingdom and France,"
said President and CEO Tony Busseri.
"As EMS, this company has had a troubled past, but we have successfully
overcome those challenges and it is time to leave them behind. It is time to
look to the future with a new perspective and a new name," he said. "As
EnGlobe, we will be recognized as a company with a strong financial base,
increasing profitability and a focused strategy to achieve our outstanding
potential for growth. We have leading technology and people with unequalled
expertise and commitment."
Mr. Busseri noted that, in the past year, the Company has completed a
$20 million recapitalization as well as a merger with Biogénie S.R.D.C. Inc.
which greatly expanded its site assessment and remediation business, provided
critical mass in central Canada, and enhanced its platform for growth. In
2006, the Company won significant long-term contracts with municipalities in
Ontario, increased its revenues by 33% and its EBITDA by 74%, exceeding its
own targets. More recently, it has announced a doubling of its soil treatment
capability in the United Kingdom and strengthened management with the addition
of Raymond Castonguay as Chief Financial Officer.
"We are in a stronger position than ever to generate value for our
shareholders. We are well established, balanced and growing in our core
businesses of organic waste management, soil remediation and tank testing and
calibration," Mr. Busseri said. "Changing our name to EnGlobe symbolizes that
transition to a new era."
Environmental Management Solutions Inc. is Canada's leading integrated
environmental services company specializing in the management of organic-based
waste streams and contaminated soils, with an emphasis on beneficial reuse.
EMS offers cost-effective solutions to municipal, commercial and industrial
clients in Canada, the northern United States, England and France through its
subsidiaries: Biogénie S.R.D.C. Inc. for site assessment and remediation, GSI
Environment Inc. for organic waste management, and; Tanknology Canada Inc. for
tank testing and calibration.
Environmental Management Solutions is listed on the Toronto Stock
Exchange under the ticker symbol EMS.
For further information:
For further information: Investors: Tony Busseri, President and Chief
Executive Officer, Environmental Management Solutions Inc., (905) 335-2100 x
22; Media: John Lute, Lute & Company, (416) 929-5883 x 222