CET Environmental Services Inc.: The Tustin waste...

CET Environmental Services Inc.: The Tustin waste management and environmental consulting firm began trading Thursday on the American Stock Exchange. Founded in 1987 as Thorne Environmental Inc., the company has grown steadily the past several years, fortified by a five-year, $60-million Environmental Protection Agency emergency response contract signed in 1991. CET Environmental is regionally focused, with 11 offices along the West Coast ranging from Orange County to Seattle. Its projects include cleanup of illegal drug labs, hazardous waste removal and material transportation. The waste management company had a profit of $1.6 million on $23 million in revenue in 1994. CET Environmental reported a profit of $566,582 on revenue of $6.6 million in the first quarter this year. The company’s offering of 1.2 million shares was underwritten by Sentra Securities Corp. and Nutmeg Securities, Ltd. CET Environmental closed Thursday at $5.1875 a share, up 18.75 cents a share in its first day of Amex trading.