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Waste Business Journal Weekly News Bulletin: Feb. 5-11, 2008

Headlines...

  1. Republic Services Reports Rise in Fourth Quarter Profits and Revenues
  2. More Counties Consider Flow Control in Upstate New York
  3. Waste Imported and Landfilled in Michigan is Down by 6%
  4. Connecticut to Add 110 Megawatts of Renewable Power
  5. Oahu Hawaii Reports Lower Recycling Rate
  6. Ecolab to Acquire Provider of Energy, Water and Effluent Management Systems
  7. Sharps Compliance Reports Sharp Increase in 2Q Billings
  8. ANSI Approves New Waste Industry Standards

 

  1. Republic Services Reports Rise in Fourth Quarter Profits and Revenues

    Republic Services reported a 22 percent rise in fourth quarter profit to $82.1 million, or $0.44 per share, from $66.9 million, or $0.34 per share, last year, beating analysts' expectations of $0.41 per share. However, earnings in the quarter included a $0.03 gain related to the sale of the company's Texas-based compost business, Living Earth Technology Co. Revenues for the quarter were up by 3.9% to $796 million from $766.2 million in the same period in 2006. Driving these gains were primarily pricing initiatives and higher fuel surcharges since volumes were off by about 1.5 percent. For fiscal 2008, Republic is forecasting earnings of between $1.78 and $1.82 a share. Separately, Republic's board authorized the repurchase of an additional $250 million of company shares...Read More »

  2. More Counties Consider Flow Control in Upstate New York

    The upstate New York counties of Lewis and St. Lawrence are said to be considering flow control as a means to guarantee coverage of the $21 million in debt held jointly on their Development Authority of the North Country's landfill at Rodman. So far, Jefferson County, which is home to the landfill and a joint owner, is not considering the measure. The development authority itself lacks any municipal policing powers that would enable them to enact flow control directly. The move comes in response to recent action by the Supreme Court which reversed course on its 1994 ruling by saying that governments can force haulers operating within their jurisdictions to use their government-owned facility. The move would essentially revive a preexisting 1992 flow control measure that had been set aside after the 1994 decision. Flow control would do little to change the status quo since most waste generated in the region ends up at the DANC facility, hauled there by Casella Waste Systems which currently holds a contract to collect waste in Lewis and St. Lawrence counties...Read More »

  3. Waste Imported and Landfilled in Michigan is Down by 6%

    The Michigan DEQ reported a decrease in the volume of waste sent to the state's landfills of 6 percent from last year. Part of which is attributable to a 10 percent drop in the volume of waste originating out-of-state. Imported waste plays a significant role since it accounts for 29 percent of all landfilled waste in the state. 19 percent of all waste comes from Canada alone. That volume has dropped in accordance with a deal made in 2006 between Michigan Senators Levin and Stabenow and the province of Ontario to voluntarily stop shipments from Toronto and surrounding communities into Michigan by 2010. At its peak in 2003, Toronto shipped 142 truckloads of waste per day to Michigan. It now averages 80 truck shipments per day...Read More »

  4. Connecticut to Add 110 Megawatts of Renewable Power

    The Connecticut Department of Public Utility Control has granted final approval to seven renewable energy projects that will provide the state with nearly 110 megawatts of power. They include three fuel cell projects, three biomass projects, including a 3-megawatt cow manure-powered biomass plant, and a methane gas project at a Norwalk landfill. The six fuel cells required to power three of the projects will be built by FuelCell Energy Inc. of Danbury at the company's 65,000-square-foot manufacturing plant in Torrington...Read More »

  5. Oahu Hawaii Reports Lower Recycling Rate

    The island of Oahu Hawaii reported that its recycling rate for 2006 fell to 31 percent from 41 percent in 2005 and 35 percent in 2004. The island generated about 1.8 million tons last year of which just over 500 thousand tons were diverted through recycling and reuse programs. Officials are uncertain about the cause but speculate that a larger proportion of construction and demolition wastes would result in a lower recycling rate since these streams are more difficult to recycle. Last month, the island announced plans to expand its waste-to-energy plant and to ship more waste to the mainland in order to preserve space at its Waimanalo Gulch landfill which is needed over the long term to dispose of incinerator ash from the plant...Read More »

  6. Ecolab to Acquire Provider of Energy, Water and Effluent Management Systems

    Ecolab says it has agreed to acquire Ecovation, a Rochester, NY-based provider of renewable energy technology and effluent management systems for the food and beverage industry, for approximately $210 million. Ecolab will then sell approximately $40 million of long-term lease receivables following the transaction. Ecovation's technology reduces plant operation costs by capturing energy from plant waste. It also helps food and beverage processors comply with regulatory requirements. "While an emerging market, the potential for such complete plant solutions is substantial, with the U.S. food and beverage market opportunity alone exceeding $4 billion," according to Ecolab's chairman, president, and CEO Douglas M. Baker, Jr. Ecovation reported 2007 sales of approximately $50 million, and is expected to post 2008 revenues of over $100 million. Ecolab says the acquisition will be dilutive to earnings by up to $0.01 per share this year, but will be accretive to earnings in 2009 and thereafter...Read More »

  7. Sharps Compliance Reports Sharp Increase in 2Q Billings

    Medical waste disposal firm Sharps Compliance Corp. said that second quarter revenues and customer billings were up by nearly 20 percent. Revenue increased by 18% to $3.75 million from $3.2 million in the corresponding quarter last year. The Houston-based company provides disposal solutions for small quantity generators of medical waste which includes mail-in programs and a proprietary audit system...Read More »

  8. ANSI Approves New Waste Industry Standards

    The American National Standards Institute (ANSI) has approved three new waste industry standards covering containers and safety requirements based on recommendations set fourth by the Waste Equipment Technology Association (WASTEC). According to Gary Satterfield, executive vice president of WASTEC, "ANSI standards provide a base line on safety for manufacturers and users that ensures a level playing field and an overall understanding on how to handle equipment."...Read More »

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