Veolia Environnement First Quarter Sales up 8.8 percent
Veolia Environnement SA reported an 8.8% rise in first quarter revenues to €7.8 billion (US$10.6 billion) from €7.2 billion in the same period a year earlier. Consolidated operating earnings came to €654.8 million (US$886 million). However, analysts at Raymond James had been expecting closer to €700 million. "The quarter was marked by solid gains in water, waste treatment and transportation activities," said the company's executive general director, Jerome Contamine. But the company said that sales in the energy services unit fell 3.4% to €1.9 billion euros, reflecting an extremely mild winter and lower energy costs. Last month Veolia agreed to purchase German rival Sulo in a deal worth €1.45 billion (US$2 billion)...Read More »
Landfill Gas System for Sale; Operators in Bankruptcy
Operators of the landfill gas system of one of the country's largest landfills: the McCommas Bluff landfill in Dallas Texas had to declare Bankruptcy and will have to sell their assets. McCommas Landfill Partners LP leases from the City of Dallas the right to collect and sell the gas. They in turn, sublease to McCommas LFG Processing Partners LP to collect and convert the gas into pipeline-quality natural gas. McCommas had hoped to build a power plant on the site but was unable to obtain financing in part because of the City's demand that it sell the energy at a price below the cost of production...Read More »
BFI Canada Posts Strong First Quarter Results
BFI Canada Income Fund reported that first quarter revenues expanded by 13% to CAD 202.3 million from CAD 178.9 million for the same period a year ago. This helped push earnings to CAD 10.6 million, or CAD 0.20 per share, from CAD 4.9 million, or CAD 0.09 per share last year. Keith Carrigan, Vice Chairman and CEO attributed the impressive gains to strategic acquisitions, enhanced pricing and to a lesser extent foreign currency translation gains. He said the gains were all the more remarkable given the relatively mild winter last year...Read More »
Ohio EPA Extends Moratorium on New Haz Waste Incinerators
The Ohio EPA says that it will continue its 14-year moratorium on new commercial hazardous waste incinerators for another three years. In addition to the usual environmental concerns, the agency cites excess capacity and the successful efforts by many generators to reduce hazardous waste generation. Under a 1993 law, the state performs a statewide capacity every three years. The latest study, done in 2006, indicates an annual capacity to treat 136 thousand tons against which there is a demand of only 98 thousand tons...Read More »
Oregon Joins Chorus of States to Push E-waste Legislation
Oregon's House of Representatives unanimously approved an electronics waste (e-waste) measure that would require manufacturers to help fund recycling sites and collection centers. It would also prohibit landfill operators from knowingly accepting such items. The measure still requires state Senate approval and the Governor's signature to become law. According to Oregon DEQ, Oregonians disposed of 32,500 tons of e-waste in 2005. Last week the Minnesota passed a similar law...Read More »
Australian Waste Giant to Acquire Cleanaway Australia from KKR
Australian integrated industrial service and waste management company Transpacific Industries acquired Cleanaway Australia from private equity firm Kohlberg Kravis Roberts for $1.25 billion. Transpacific executive chairman Terry Peabody said Cleanaway would be an excellent fit with the company's existing solid-waste businesses. Cleanaway operates in every Australian state except Tasmania. In April Transpacific picked up another Australian waste firm Twigg Group for $155.8 million...Read More »
Clean Harbors Posts Double Digit First Quarter
Environmental and hazardous waste services firm Clean Harbors reported strong first quarter results. Revenues increased by 11% to $205 million from $184.5 million last year. Net income rose 25% to $3.4 million or $0.17 per share from $2.7 million or $0.14 per share last year. Top line performance was helped by increased diversity of business and the Teris acquistion. However, income from operations dropped by 29% to 10.7 million from 15 million last year. According to CEO Alan McKim, "Based on the decreased contributions from incinerators, landfills and emergency response, our product mix was skewed toward more lower margin business than in the comparable period in 2006."...Read More »
EPA Reports Environmental Progress along the Mexican Border
Two new reports by the US EPA and its Mexican counterpart, the Secretariat of Environment and Natural Resources document persistent environmental problems along the US-Mexico border as well as progress made in remediation. Among the more serious problems has been the accumulation of nine million used tires there, partly the result of a rapidly growing population on both sides and increasing demand from Mexico...Read More »
Roanoke Valley Resource Authority Embarks on $5 Million Landfill Expansion
The Roanoke Valley Resource Authority in Virginia has just begun a $5.2 million 50-acre expansion of its Smith Gap Regional Landfill. The Authority is permitted to use 640 acres of the 1,200-acre site of which about 50 is already in use. The development of the additional 50 acres is expected to meet the region's needs for the foreseeable future. The landfill receives waste exclusively by rail from the Authority's Tinker Creek Transfer Station in Northeast Roanoke about 30 miles away...Read More »
Avalon Holdings Posts First Quarter Earnings Gains
Waste management firm Avalon Holdings reports an increase in first quarter profits to $352 thousand, or $0.09 per share versus $2 thousand, or breakeven last year. Earnings were helped by increased revenues which were $11.3 million over $8.9 million last year...Read More »
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