1
                                                                    Exhibit 99.3


                       [PHILIP SERVICES CORP. LETTERHEAD]


                                  NEWS RELEASE


              ALLWASTE AND SERV-TECH STOCKHOLDERS APPROVE MERGERS
                           WITH PHILIP SERVICES CORP.

(Hamilton, Ontario -- Houston, Texas) July 30, 1997 -- The shareholders of
Allwaste,Inc. ("Allwaste") and Serv-Tech, Inc. ("Serv-Tech") today voted at
shareholder meetings to approve the mergers of Allwaste and Serv-Tech with
Philip Services Corp. ("Philip"). The mergers are scheduled to become
effective on July 31, 1997.

Under the terms of the merger agreements, each share of Allwaste stock will be
exchanged for 0.611 shares of Philip common Stock and each share of Serv-Tech
stock will be exchanged for 0.403 shares of Philip common stock. Upon completion
of the mergers, Philip will have 97,674,733 common shares outstanding with a
total market capitalization of approximately US $1.45 billion.

"The shareholders of Allwaste and Serv-Tech have confirmed their confidence
that collectively we will lead the industrial services sector," said Allen 
Fracassi, President and Chief Executive Officer of Philip. "Their support
concludes almost five months of hard work involving employees at almost every
level of our organizations. The combination of our companies is expected to
result in significant operational synergies and to be accretive to earnings. We
are well advanced in the process of integrating these companies, cross-selling
our services, and internalizing third party cost."

The combination of Philip, Allwaste and Serv-Tech brings together complimentary
operating strengths and creates a portfolio of services to respond to
outsourcing and supplier reduction programs in the industrial marketplace. The
North American market for industrial services is estimated at US$50 billion
and growing at 10% annually.

The mergers have established Philip as the North American industrial services
leader with over 240 locations, 10,000 employees and estimated 1997 revenue of
US$1.6 billion. Philip is now organized into two operating divisions: the
Industrial Services Group, which includes Allwaste, Serv-Tech and Philip's
by-products recovery and environmental services operations; and the Metals
Recovery Group, which encompasses all of Philip's steel, copper and aluminum
processing and mill services operations.


                                                                 [RECYCLE LOGO]

                       [PHILIP SERVICES CORP. LETTERFOOT]
   2
                       [PHILIP SERVICES CORP. LETTERHEAD]


"The integration team has worked diligently since the mergers were announced to
ensure we benefit from new business opportunities immediately upon closing,"
said Robert Chiste, the former President and CEO of Allwaste who is now
President of Philip's Industrial Services Group. "The regional organizational
structure and management team is established, and has completed an aggressive
employee orientation and training program. Our employees are focused on
achieving internal growth through delivering integrated services to our
approximately 50,000 commercial and industrial customers. We have already
acquired new contracts through integrating our combined strengths to deliver
cost-effective packaged services to our clients."

Philip Services Corp. (formerly Philip Environmental Inc.) is a fully
integrated resource recovery and industrial services company providing steel,
copper and aluminum processing and recovery services, together with diversified
industrial outsourcing services to all major industry sectors. The Company
trades on the New York, Toronto and Montreal Stock Exchanges under the symbol
"PHV".

                                      -30-

Contact:   Allen Fracassi
           President and Chief Executive Officer
           (905) 521-1600

           Robert Chiste
           President -- Industrial Services Group
           (713) 625-7151

Contact:   Lynda Kuhn
           Vice President -- Corporate Communications
           (905) 540-6658


                                                                 [RECYCLE LOGO]