January 23, 2018

ReNuke Spin-off

December 20, 2012

Press Release
By Fred Gardner

DeNuke Contracting Services, Inc. and ReNuke Services, Inc. jointly announce the spin-off of its ReNuke subsidiary and purchase of ReNuke stock by Ian S. Howard, ReNuke’s Vice President and General Manager.

With the unanimous approval of its board of directors and shareholders, DeNuke spun-off its ReNuke subsidiary yesterday. In a set of coordinated transactions, Ian S. Howard ReNuke’s Vice President and General Manager purchased 50% of ReNuke common stock from Frederick W. Gardner, DeNuke’s Senior Vice President and Founder. The purchase becomes effective December 31, 2012. With the sale, John H. Coffman, President and CEO of DeNuke and Howard will each own 50% of the new company’s stock. Coffman will also serve as ReNuke’s President and CEO. ReNuke’s board of directors will include Coffman, Gardner, and Howard.

“This is a huge day for ReNuke,” said Howard. “A small group of dedicated ReNuke employees have worked hard over the past six years to make this a reality. Without their dedication, skill, and perseverance this would not have been possible. I’m personally thankful to them, for the support and patience that John and Fred showed throughout the early years with ReNuke, and to the customers without whom there would be no company.”

Gardner added, “When we conceived and launched ReNuke to build our commercial nuclear business we had no idea what to expect. Needless to say, it has exceeded those early expectations and is perfectly positioned for continued growth with several blue chip customers.”

“Each of these companies has different strengths, which make them formidable competitors in their respective markets,” concluded Coffman, “I’m proud to be an owner, director, and officer in each. This spin-off sets the stage for DeNuke and ReNuke to be hugely successful now and in the future.”