Whitewing Acquires Advanced Recovery Solutions

Whitewing Environmental Corp. has completed the acquisition of Advanced Recovery Solutions, Inc., strengthening the company's position in the recycling and industrial absorbents industry.

The company has operated ARS in conjunction with its operations since an initial shareholders agreement reached in September 2001 gave Whitewing 50 percent beneficial ownership. Under the terms of the agreement, the company has acquired all issued and outstanding ARS capital stock in exchange for common stock of the company, cash, and a promissory note.

"This acquisition enables a major expansion of our current production lines and capabilities and we are confident these aggressive efforts will directly benefit our customers, investors and shareholders," commented Joe Bianco, Whitewing’s chairman. "Our plan to affect horizontal expansion--similar to the very successful efforts of International Absorbents Corp., among others--is furthered with the strategic addition of ARS."

ARS manufactures cellulose-based absorbents paper mill waste. The company also produces a full line of absorbent socks, pillows and booms made from waste cellulose and polypropylene trimmings from other industries.