Date: May 17, 2011
Source: News Room
Clean Harbors, Inc. (Norwell, MA) CEO Alan McKim told Reuters recently that his company would likely raise its 2011 revenue outlook following a recent acquisition and that the company will look at deals in the waste disposal business. He said he could raise the outlook by at least 6 percent, boosted by a recent acquisition and additional business related to Mississippi flood cleanup work. Last month's acquisition of Canada's Peak Energy Services Ltd. could raise this year's revenue by about $100 million. Moreover, Mississippi flood cleanup is likely to drive more volume to its disposal facilities which have already reported steady volume despite the usually slow seasonal quarter, according to last week's first quarter report. That will likely steer the company, which has recently been diversifying into the energy services business, towards more traditional waste deals. In its first quarter report, the company said volumes at its waste disposal business, its largest segment, are being driven bymanufacturing activity and by a rebound in the economy.
See also: "Clean Harbors' First Quarter Profits Double," (www.wasteinfo.com/news/wbj20110512G.htm).