March 10, 2008

Spanish Company Backs New Orleans-Based Petrochemical Services Inc.

By Anonymous

Petrochemical Services Inc. has announced a joint venture with a Spanish company to further expansion into new markets and an infusion of capital.

Terms of the deal with Barcelona-based Tradebe Group remain vague, but Thomas Brinsko, president and COO of Ind-Viro Search, said the agreement does not represent a sale of PSI to the Tradebe Group.

CEO James Broadwell will stay on and PSI's roughly 70 employees will not be affected, Brinsko said.

PSI, founded in New Orleans in 1981, provides waste processing, tank cleaning and gas-freeing services to the refining, chemical, pulp and paper industries. It has operations in New Orleans, Houston, Honolulu, Richmond, Va., and El Segundo, Calif.

Credit: CityBusiness Staff Report

(Copyright 2008 Dolan Media Newswires)

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