Allied Waste Sells Off Several Non-Core Operations
Allied Waste Industries, Inc. (NYSE: AW) has completed the sale of some of its solid waste collection operations in Knoxville and Cleveland, Tennessee to Waste Connections, Inc. (NYSE: WCN) for approximately $50 million. Separately, Allied Waste reached agreement to sell certain collection operations in Palatine, Illinois to Groot Industries, Inc. for approximately $20 million. Additionally, Allied has acquired or intends to acquire four landfills and a transfer station for approximately $30 million in separate transactions expected to close by the end of the year...Read More »
Republic Reports End-Of-Quarter Results
Republic Services, Inc. (NYSE: RSG) has reported net income of $62.2 million, or $0.38 per share, for the three months ended September 30, 2002, versus net income of $56.7 million, or $0.33 per share, for the same period last year. Revenue increased 4.7 percent to $609.7 million from $582.6 million for the same period in 2001. Operating income for the three months ended September 30, 2002 was $118.2 million, compared to operating income of $110.4 million for the same quarter last year...Read More »
Unionville Landfill Would Be North Carolina's Second Largest
A Unionville, N.C. businessman's proposal for the Griffin Farms Environmental Disposal Facility is still in early stages. The landfill would accept up to 2,500 tons of trash a day beginning in 2006, from roughly a 100-mile radius in the Carolinas. Residents in the town of 4,800 say the landfill would harm water supplies, property values, and traffic conditions. But the landfill's supporters note that the facility would pay Unionville fees totaling almost three times the town's annual revenue of about $150,000. And they say it could save Union County up to $1.9 million, which it spends now to haul its trash to Montgomery County, N.C. The site would be only slightly smaller than the state's largest landfill, the Charlotte Motor Speedway landfill in Concord, which handles 3,500 tons each day...Read More »
Fort Worth Considers Solid Waste Disposal Options
The city of Forth Worth, Texas could recoup more than $200 million over the next 20 years by turning over operation and management of its southeast landfill to Trinity Waste Services, officials have said. The deal with Trinity is one of six garbage-related contracts proposed by city staff and a team of consultants after more than 18 months of study. The proposal would divide the city's garbage services into six pieces that would be divvied up among five companies, including Trinity. Still to be decided, however, is whether residential garbage would be picked up through a pay-as-you-throw system or the present twice-weekly collection...Read More »
California Halts Recycling Scam
After a yearlong investigation, law enforcement officers have arrested 14 people accused of defrauding the state's recycling program of millions of dollars by hauling bottles and cans from Mexico and neighboring states and redeeming them in Los Angeles. State officials said the consortium was purchasing aluminum cans as scrap in states that do not require a recycling deposit and then cashing them in at California recycling centers, where deposit money is returned. Discarded aluminum cans in Nevada, Arizona and Utah could be purchased for about $950 a ton and then sold in California for about $2,490 a ton. Plastic bottles netted even higher profits, selling for $90 a ton out of state and bringing in $910 in California...Read More »
Waste Industries Reports Third Quarter Results
Waste Industries USA, Inc. (Nasdaq: WWIN), formerly known as Waste Holdings, Inc., has reported financial results for the third quarter ended September 30, 2002 compared to the same period last year. For the quarter ended Sept. 30, 2002, the company reported revenues of $65.0 million, up 3.6% compared to $62.8 million for the quarter ended September 30, 2001. Operating income increased 21.3% to $7.6 million compared to $6.3 million for the comparable period last year. Net income increased 31.1% to $3.2 million, or $0.24 per share...Read More »
Lieberman Accuses Bush Administration Of "Hostility" Toward Environment
Democratic Sen. Joseph Lieberman of Connecticut has released a report contending that the Bush administration took office in 2001 with a "predetermined hostility" toward federal rules that protect the nation's air, land and water. Lieberman, who is considering running for president in 2004, chairs the Senate Governmental Affairs Committee. The panel issued a report accusing the administration of using "stealth tactics to achieve its ideologically-driven ends." Environmental issues could play an important part in the upcoming mid-term congressional elections, in which the Democrats are looking to strengthen their hold on the Senate and possibly take control of the House of Representatives...Read More »
Startech Signs $10 Million Contract To Send System To Poland
Startech Environmental Corp. (Nasdaq: STHK), a manufacturer of plasma-based systems for the conversion of waste into useful commodity products, has announced that Dobrow-based Chempol, Sp. Z o.o., a private chemical company in the Silesian coal-producing region of Poland, has signed a sales contract to buy a 10-ton-per-day Plasma Converter System. The system is expected to be shipped to Poland during the summer of next year. Chempol will be using Startech's Plasma Converter System to process pesticides. With this sales contract, Startech will exceed the its previously announced guidance of $10 million in sales and backlog for calendar year 2002...Read More »
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