The guy was shown impaled along with a drowned Newt in the recovered EEV wreck at the start of 3.
But apparently now they are not abandoning 3 (or 4).
Okaaaay.
Alien: Resurrection showed clones being made of Ripley. If they can clone Ripley from whatever was left of her after the ending of Alien 3 then surely they can clone Hicks from whatever remained of him. I'm guessing the company at the time would have just put everything on ice, which theoretically means they could bring back anyone.