PRESS RELEASE - NOVEMBER 23, 2004


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TRANSTECH INDUSTRIES, INC. NAMED TO UNILATERAL ADMINISTRATIVE ORDER

 

            PISCATAWAY, N.J., November 23, 2004 - Robert V. Silva, President and Chief Executive Officer of Transtech Industries, Inc. (OTC BULLETIN BOARD:TRTI)announced today that the Company, along with certain other potentially responsible parties (“PRPs”), has been named as a respondent to an Unilateral Administrative Order (the “UAO”) issued by the United States Environmental Protection Agency (“EPA”) on November 17, 2004 regarding a superfund site located on Paterson Plank Road in Carlstadt, New Jersey (the “Site”).  The UAO requires the respondents to contribute toward the implementation of the Operable Unit 2 remediation plan for the Site and to reimburse EPA for alleged past costs incurred by it regarding the Site.  Respondents must notify EPA whether or not they intend to comply with the requirements of the UAO within thirty days from the effective date of the UAO.  The Company’s potential share of such contribution and reimbursement, if any, has yet to be determined.

 

            The Company’s relationship with the Site has been previously disclosed in many of the Company’s press releases and filings with the Securities and Exchange Commission.  The Company had operations at the Site during the late 1960s, was named as a respondent, along with other PRPs, to a September 1990 Unilateral Administrative Order issued by EPA and in September 2002, received a notice issued by EPA to the PRPs that sought $9.5 million for the issues addressed in the UAO; i.e. reimbursement of EPA's costs and the financing of the Operable Unit 2 plan.

 

            This news release may contain forward-looking statements as defined by federal securities laws, that are based on current expectations and involve a number of known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release.  Such risks and uncertainties include among others, the following: general economic and business conditions; the ability of the Company to implement its business strategy; the Company’s ability to successfully identify new business opportunities; changes in the industry; competition; the effect of regulatory and legal proceedings.  The forward-looking statements contained in this news release speak only as of the date of release; and the Company does not undertake to revise those forward-looking statements to reflect events after the date of this release.

 


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