AMCOL International (ticker: ACO, exchange: New York Stock Exchange (.N))
News Release -
AMCOL International Corp. (NYSE: ACO) Environmental Subsidiary Sells Filtration Services Business
ARLINGTON HEIGHTS, Ill., Oct. 6 /PRNewswire/ -- CETCO (Colloid
Environmental Technologies Co.), a wholly owned subsidiary of AMCOL
International Corp. (NYSE: ACO), sold its filtration services business unit to
Barnebey Sutcliffe Corp., effective Sept. 30, 1999. This business unit,
acquired by CETCO in 1994, provided vacuum and rebedding services to
industrial users of activated carbon filtration systems used for treating
wastewater. CETCO had operated six regional service centers in the United
States, which were included in the assets sold. Additional terms of the deal
were not disclosed.
CETCO President Ryan McKendrick said, "Our divestiture of the filtration
services unit has strategic benefit. CETCO is focused on optimizing the
profitability of its core businesses, and this area, like other divestitures
we've made this year, was not performing to our benchmark criteria. Acquiring
this business in 1994 was CETCO's entry into the environmental services
sector. It has helped CETCO develop several important opportunities, which
remain part of our core business -- most notably, our offshore oilfield
services business, which is one of the fastest-growing segments within CETCO."
McKendrick added, "The filtration services business unit is better
positioned within a fully integrated activated carbon supplier such as
Barnebey Sutcliffe, where expanded service capability will enhance value for a
large industrial customer base."
Barnebey Sutcliffe is a subsidiary of Waterlink Inc., a leading
international provider of equipment, systems and services for water
purification and wastewater treatment. Waterlink's sales are approaching
$200 million annually.
CETCO supplies environmental products and technical expertise to a wide
range of specialized markets, including landfill lining technologies,
wastewater treatment, drilling products and building materials that serve as
waterproofing agents. Its parent company, AMCOL International Corp., is a
specialty chemical and minerals company.
SOURCE AMCOL International Corp.
Web site: http: //www.amcol.com
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CONTACT: Jodi Warner, Director of Investor Relations of AMCOL International Corp., 847-394-8730