AIG, DLJ Acquire Interest In American Ref-Fuel
AIG Highstar Capital and DLJ Merchant Banking Partners III, L.P. have reached a definitive agreement with Duke Energy North America to acquire its 50 percent interest in Duke/UAE Ref-Fuel. Duke/UAE Ref-Fuel owns American Ref-Fuel Company, a holding company for six waste-to-energy facilities in the Northeastern United States. The agreement calls for a newly formed entity owned by Highstar Renewable Fuels LLC and CSFB Private Equity to pay Duke Energy approximately $306 million and is expected to close by mid-year. American Ref-Fuel Company's facilities, located in Connecticut, Massachusetts, New Jersey, New York and Pennsylvania, convert municipal solid waste into energy and have a gross capacity of approximately 380 megawatts...Read More »
Honolulu Landfill Almost at Capacity
With only several weeks of capacity remaining at its Waimanalo Gulch Landfill, the city of Honolulu is beginning what officials say will be its final expansion. The 15-acre expansion will give the city five more years of storage at the landfill and give the city time to improve recycling programs and settle on an alternative waste disposal. Approval of the expansion is seen as a foregone conclusion, because the city has no other alternative. But the city will still need to devise a plan should the landfill reach capacity before the permit is issued. Once the permit is approved, the city has said it would take about two weeks to get the first section of the expansion completed and ready to receive garbage...Read More »
Michigan DEQ Report Shows Increase In Out-Of-State Waste
The amount of Michigan solid waste in landfills decreased from 2001, but the percentage of out-of-state trash actually increased, according to a new report. The Michigan Department of Environmental Quality recently released its annual solid waste and landfill report, which details the amount of disposed trash in landfills around the state. The total volume of landfilled waste decreased by 4.7 percent from 2001 to 2002. Out-of-state solid waste made up about one-fifth of the total amount. In 2001, the amount of Canadian waste was around 9.8 percent, according to the report. That figure jumped to 11.5 percent last year constituting the largest source of imported solid waste...Read More »
Sub-Surface Waste Management Begins New Carbon Recycling Project
Sub-Surface Waste Management Inc., a subsidiary of U.S. Microbics Inc. (OTCBB: BUGS), has commenced another carbon recycling project for an undisclosed national manufacturer of specialty process filters for the pharmaceutical industry located in Southern California. The project leverages SSWM's trademark BAC treatment process. SSWM is the only environmental remediation solution provider of its kind to apply its proprietary microbial technology to the carbon recycling business. Company officials noted that SSWM's solutions clean 98 percent (or greater) of contaminants out of spent carbon filters and carbon filtration media, at 50 percent of the cost in half of the time as compared to conventional methods...Read More »
Dell Announces On-Site Pickup Of Old Printers
Customers who purchase Dell (Nasdaq: DELL) printers can now recycle their outdated printers at no additional cost. Dell has announced its pickup option, an industry first among major electronics companies, available to any customer in the continental United States who purchases a new Dell printer. Any customer who purchases a new Dell printer can recycle their old one simply by putting it in the box their new Dell printer came in, attaching the pre-paid shipping label supplied by Dell, and following the return instructions enclosed with their new printer...Read More »
Foster Wheeler Announces Year-End Results
Foster Wheeler Ltd. (NYSE: FWC) has reported results for the fourth quarter 2002 and the year. Results for both periods were dominated by restructuring and special charges. Revenues for the fourth quarter 2002 totaled $995.4 million. The company reported a net loss of $112.1 million, or $2.73 per share. Excluding all special charges, net income for the quarter was $5.4 million, or $0.13 per share diluted. These results compare to revenues of $1,034.9 million in the year-ago quarter, and a net loss of $343.1 million, or $8.39 per share. Cash balances worldwide at year-end were $429 million, compared to $224 million at year-end 2001. As of December 27, 2002, the company's indebtedness was $1.1 billion, compared to $1.0 billion at year-end 2001...Read More »
Insituform Technologies Wins Alaska Governor's Safety Award
Insituform Technologies, Inc. (Nasdaq: INSU) has announced that Alaska Governor Frank Murkowski awarded Insituform the Governor's Safety Award of Excellence. Alyeska Pipeline Service Co. nominated Insituform for the award for pipe rehabilitation work performed on the Trans-Alaska Pipeline. Between 1998 and 2002, Insituform completed approximately 22,000 man-hours on the project without any OSHA recordable injuries or first aid cases...Read More »
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