One of the Toledo area's smallest publicly traded companies could face serious financial problems soon.
N-Viro International Inc. of Toledo, a sewage treatment technology firm, said yesterday that the city of Toledo has notified it that its contract to treat sludge will not be renewed Dec. 31, and the work will be put out for bid.
The firm, which lost $1.5 million last year and $156,000 in its most recent fiscal quarter, relies on the Toledo contract for more than a third of its revenue of about $5.5 million. N-Viro said it had a letter from the city in 2001 that would have extended its contract for five years past this year, but the city contends the extension agreement is not valid.
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