ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Wednesday, February 7, 1996 TAG: 9602070035
SECTION: BUSINESS PAGE: C-6 EDITION: METRO
SOURCE: MAG POFF STAFF WRITER
ETS International Inc. of Roanoke said Tuesday it has acquired the assets of Pipe-Liner Installers Co. of Pompano Beach, Fla., in exchange for 539,130 shares of its common stock.
The assets will be the basis for a newly formed corporation, ETS Liner Inc., doing business as Pipe-Liner Installers. The company will be based in Pompano Beach and operate as a subsidiary of ETS Water and Waste Management Co., the Richmond-based utility construction arm of ETS International.
Pipe-Liner is a construction company that installs water and sewer lines and utility-related equipment. Its annual revenues exceed $3 million.
A key element in Pipe-Liner was its rehabilitation of sewer lines using a proprietary trenchless technology marketed under the name Ultraliner. The Florida franchise has been transferred to ETS Liner Inc., and the Richmond subsidiary has obtained it for central and Northern Virginia.
Richard Snyder, former president of Pipe-Liner and president of ETS Liner, said the company will expand in Florida.
Coleman Lyttle, president of the Richmond subsidiary, said the acquisition and rehabilitation expertise will allow ETS to accelerate expansion into the Virginia market. He said the trenchless rehabilitation of water and sewer lines is a market that exceeds $200 million.
John D. McKenna, chairman of ETS International, said ETS Liner has offices along the East Coast, which means it can expand both its environmental and construction markets.
And ETS, as an environmental company, is qualified to provide the diagnostic aspects of water and sewer line rehabilitation, he said.
LENGTH: Short : 37 linesby CNB