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Organic Resource Management Inc. Finalizes Sale of Non-Core Assets of A&A Anderson Tank Service Ltd.
download pdfOrganic Resource Management Inc. Finalizes Sale of Non-Core Assets of A&A Anderson Tank Service Ltd.
Toronto, ON, November 3, 2008 - Organic Resource Management Inc. (TSX: ORI) ("ORMI" or "the Company"), announced today that it has finalized the sale of the non-core assets of its wholly-owned subsidiary, A&A Anderson Tank Services Ltd. ("A&A"), to McRae's Environmental Services Ltd. ("McRae's") as previously reported.
The A&A assets related to the grease interceptor and organic recycling business have been re-branded as ORMI and will continue to operate in the Lower Mainland area of British Columbia, where ORMI will focus on growing its core business.
The proceeds of the A&A asset sale will be used to strengthen the Company's balance sheet by reducing debt, including eliminating the outstanding balance on the Company's operating line of credit.
About Organic Resource Management Inc.
Organic Resource Management (TSX: ORI) is Canada's largest provider of vacuum truck services for the collection, treatment and disposal of organic and other non-hazardous liquid waste. ORMI services in excess of 6,000 commercial, industrial, institutional and residential customers in Ontario, Quebec, and British Columbia. Further information about ORMI may be obtained at the Company's website: www.ormi.com.
For further information, contact:
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Organic Resource Management Inc. Charles Buehler Chairman and CEO Tel: 416-580-8574 Email: cbuehler@organicresourcemanagement.com Website: www.ormi.com |
The Equicom Group Glen Williams Investor Relations Tel: 416-815-0700 ext. 272 Email: gwilliams@equicomgroup.com |
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