SOURCE: FlagshipPDG

April 21, 2008 09:31 ET

FlagshipPDG Awarded Contracts Worth $19.7 Million

PITTSBURGH, PA--(Marketwire - April 21, 2008) - PDG Environmental, Inc. (dba FlagshipPDG) (OTCBB: PDGE), a leading provider of environmental remediation and specialty contracting services, today announced that it has recently been awarded contracts valued, in aggregate, up to $19.7 million. Approximately $14.4 million of the contracts value will be completed in our current fiscal year which ends January 31, 2009 and the remainder will be completed in the following fiscal year. Approximately $9.7 million of the awards are for unit price and job order contracts. Of the $19.7 million, $10.0 million are for asbestos abatement and the remaining $9.7 million are for reconstruction services. The abatement projects include approximately $8.9 million of contracts with governmental and other non-profit entities and $1.1 million with private commercial entities. The projects include the removal of asbestos in structures such as auditoriums, community centers, schools, courthouse, and retail businesses throughout the country. The reconstruction projects include $6.5 million of work for school systems in the State of California with the remaining projects for multi-family complexes in Texas, Utah, Ohio, Indiana and Mississippi.

"We are encouraged by the level of new contract awards and particularly the diversification of the total awards between asbestos abatement and reconstruction projects," said John Regan, chairman and chief executive officer.

About FlagshipPDG

FlagshipPDG, headquartered in Pittsburgh, PA, is a leading provider of specialty contracting services including asbestos abatement, mold remediation, emergency response, demolition and reconstruction to commercial, industrial and governmental clients nationwide. With over twenty years experience, FlagshipPDG has offices nationwide capable of responding to customer requirements coast to coast. For additional information, please visit http://www.FlagshipPDG.com.

Safe Harbor Statement under Private Securities Act of 1995: The statements contained in this release, which are not historical facts, may be deemed to contain forward-looking statements, including, but not limited to, deployment of new services, growth of customer base, and growth of service area, among other items. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing or other factors. Deviation may result from risk and uncertainties, including, without limitation, the Company's dependence on third parties, market conditions for the sale of services, availability of capital, operational risks on contracts, and other risks and uncertainties. The Company disclaims any obligation to update information contained in any forward-looking statement.

Contact Information

  • Investor Contact:
    Alliance Advisors, LLC.
    Mark McPartland / Chris Camarra
    212-398-3487
    Email Contact

    Company Contact:
    John C. Regan
    Chairman & CEO
    Nick Battaglia
    CFO
    412-243-3200