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 Enviropact Inc. said
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 it entered into an agreement in principle 
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to sell its pump and tank division and drilling division to GSX Chemical Services for $4 million.
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 The Miami-based environmental engineering concern said
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 GSX Chemical also will assume about $1.6 million in debt
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 related to those divisions.
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 Further, GSX will buy $1 million of Enviropact common stock, at $2.625 a share, plus an option
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 to acquire an additional $1.5 million of common at the same price,
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 the company said.
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 In American Stock Exchange composite trading yesterday, Enviropact closed at $3 a share, up 25 cents.
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 Enviropact said 
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the two divisions account for about $8 million of the company's $20 million in annual revenue.
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 The transaction is expected to close within about 20 days,
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 the company added.
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 Enviropact said
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 the proceeds will be used as working capital for expansion and to pay its existing tax liability of about $1.5 million 
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that was due Sept. 15.
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 GSX is a unit of Laidlaw Transportation Ltd. of Burlington, Canada.
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