Itec signs letter of intent
Oakdale, CA— Itec Environmental
Group, Inc., (Itec) has executed a Letter of Intent with Waste
Management Recycle America, L.L.C. (WMRA), a wholly owned subsidiary
of Waste Management, Inc., to acquire two plastic recycling facilities
located in the Chicago, Illinois and Raleigh, North Carolina.
Both parties are engaged in the
due diligence process. In the event the acquisitions are consummated,
Itec expects the completion on or by June 30, 2006.