Pure Earth, Inc. Announces Award of $14 Million Project

Pure Earth Inc., based in Travose, Pa., has announced that it has been awarded a large environmental project involving the construction of a new basketball arena for the New Jersey Nets basketball team in Brooklyn, N.Y. According to the company, the estimated project value is $14 million and should begin in late 2009 and be completed by late 2010

According to a company news release, the company was able to secure the project because of its network of treatment and recycling facilities that can treat and beneficially reuse soils that will be removed from the site.

“This is a huge award in what has been a very challenging year for Pure Earth, Inc,” says Mark Alsentzer, CEO of Pure Earth. “We have continued to focus on establishing a superior network of facilities which can provide cost-effective services in the market place." The company believes that this award, along with the increased bidding activity and anticipated future project awards, should return its base business to levels it achieved in 2007 when the company had $6.9 million of positive cash flow.

Alsentzer further states, "The return of our construction-related work is a welcome sign of good things to come." The company says it has seen a recent increase in newly awarded projects which had been absent for most of 2009. It is hopeful that this trend will continue as the stimulus money begins to filter down to many public projects.