The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Bennett Environmental Inc. Announces Beginning of New Saint Ambroise Campaign and Provides Update on Strategy and Executive Management

Tuesday, October 11, 2011

Bennett Environmental Inc. Announces Beginning of New Saint Ambroise Campaign and Provides Update on Strategy and Executive Management11:39 EDT Tuesday, October 11, 2011OAKVILLE, ONTARIO--(Marketwire - Oct. 11, 2011) - Bennett Environmental Inc. (TSX:BEV) (the "Company" or "BEI") today announced that it expects to begin a new processing campaign at its Saint Ambroise facility, commencing in the first quarter of calendar 2012. The Company currently has approximately 20,000 tonnes of inventory on site stored for processing and currently expects to receive an additional 24,000 tonnes from various jobs which have been awarded but not shipped.For each of these contracts awarded, the tonnage amounts are approximate, and in each case there is no commitment on the part of the client with respect to the amount of material that will be shipped under the contract, or the timing of these shipments. Actual amounts shipped may be more or less than the estimated amounts.The Company continues to actively seek further project work.Regarding the Company's strategy and executive management, as previously noted in the Company's Q2 MD&A and June 29, 2011 press release, Lawrence (Lorie) Haber was appointed as President and CEO on an interim basis, and was to serve in this position until a new permanent CEO was appointed following a search for his replacement, at which point he was expected to continue as Chairman of the Bennett Board. The Board of Directors has actively continued the process of positioning the Company for the future, and is united in its view to enhance the value of the Company for the benefit of the Company's shareholders and other stakeholders. The transition of the Company and its strategic process is well underway, and the Board is taking a broad view of the opportunities available to the Company, which will include but not be limited to, the environmental sector. In this regard, Mr. Haber has agreed with the Board that he will remain as President and CEO during this transition of the Company, and will continue to be actively and fully engaged in this role on a full-time basis. Accordingly Mr. Haber's position as President and CEO will be permanent, not interim. Forward Looking StatementsCertain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe", "confident", "plan" and "intends" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. BEI believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. In particular, there can be no assurance as to the results of the strategic process or as to the continued operation or profitability of the Saint Ambroise facility. BEI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.About Bennett Environmental Inc.Bennett Environmental Inc. is a North American leader in high temperature treatment services for the treatment of contaminated soil, and has provided thermal solutions to contamination problems throughout Canada and the U.S. Bennett Environmental's technology provides for the safe, economical and permanent solution to contaminated soil. Independent testing has consistently proven that the technology operates well within the most stringent criteria in North America. For information, please visit the Bennett Environmental website at: FURTHER INFORMATION PLEASE CONTACT: Lawrence HaberBennett Environmental Inc.President and CEO(905) 339-1540, Ext.