|
|
Article: New World Power Terminates All Interim Management & Operating Agreements With Dominion Bridge Corporation; CEO Purchases 300,000 Shares
- Article from:
- PR Newswire
- Article date:
- August 31, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
PHILADELPHIA, Aug. 31 /PRNewswire/ -- International power project developer, The New World Power Corporation (NWPC-E)(Nasdaq: NWPC), announced today that it has severed Dominion Bridge Corporation's (DBCO)(Nasdaq: DBCOQ) Interim Management Contract as well as all other agreements and associations between the two companies. New World also announced that one of its officers has purchased most of the New World common stock held by Dominion Bridge.
New World's outside directors granted an Interim Management Contract to Dominion Bridge following certain New World management terminations and a debenture default in mid-1996. Included in Dominion's assignment scope was ...