May 2006

 

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.

 


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