Sandwich, Massachusetts – April 23, 2007 – GS EnviroServices (OTC Bulletin Board: TDSM) today announced the acquisition of the Remedial Construction Group of Vertex Environmental Services, Inc. by its wholly owned subsidiary, Enviro-Safe Corporation.
“We are pleased to add this group to our Field Services Division, as both the location of the Remedial Construction Group and its management team complements our existing locations,” noted James Green, GS EnviroServices President and CEO.
Enviro-Safe currently operates out of four locations in Milford, Sandwich, and Lowell, MA and Plainville, CT in addition to the Remedial Construction Group that will be located in North Smithfield, RI.
“The ability to be part of the Enviro-Safe organization will allow us to grow our existing business as utilize and integrate personnel and equipment from various locations,” added Ross Hartman, Vice President of the Remedial Construction Group. “We are also excited to be part of an organization which owns a Part B permitted disposal facility.” This Enviro-Safe facility is located in Lowell, MA and has received eight consecutive annual awards for full compliance.
“We anticipate that through organic sales growth, the opening of our Connecticut Field Service Office and this acquisition, revenues in this business sector will increase 60-70% in FY 2007 from four million dollars to in excess of seven million dollars. Overall we expect revenue growth for the company to be four million dollars this year from fourteen million dollars to in excess of eighteen million dollars. Profits will increase accordingly,” Green noted.
Mr. Hartman has over ten years experience in the remedial construction industry and will assume full responsibility for all Field Services operations of Enviro-Safe as Vice President Field Services. Mr. Hartman joins a highly experienced, qualified team of field service personnel including Paul Connors, Vice President Business Development, Chris Graves, General Manager CT office, and Heather Atwood General Manager Sandwich, MA office.
About GS EnviroServices
GS EnviroServices Corporation provides diversified environmental management services, including value-added, environmentally conscious and cost-effective hazardous and industrial waste management services based on the efficient management of wastes and with a focus on superior technical solutions for the management, recycling and reuse of wastes. GS EnviroServices also provides site remediation and environmental engineering services and operates a Resource Conservation and Recovery Act (RCRA) Part B permitted TDSF, and field and technical service centers throughout New England.
GS EnviroServices is majority-owned by GS CleanTech Corporation (OTC Bulletin Board: GSCT), which company provides applied engineering and technology transfer services based on clean technologies and process innovations that make it cost-effective and easy to recycle and reuse resources.