Iraq War Could Have Environmental Consequences
A looming war in Iraq could have devastating environmental consequences, based on what occurred in the wake of the first Gulf War. Farming in Kuwait is still struggling after Iraqi forces torched about 700 Kuwaiti oil wells at the end of the 1991 Gulf War, creating a toxic black shroud over the region in one of the most destructive acts of ecological sabotage in history. Temperatures dropped, Gulf fisheries collapsed, and fresh water supplies were poisoned by fires and giant oil slicks. Iraqi president Saddam Hussein says Baghdad will not ignite oil wells and has no weapons of mass destruction...Read More »
Weston Names McCann To CEO Spot
Weston Solutions, Inc. has announced that the company's President and Chief Operating Officer, Patrick G. McCann, will assume the additional responsibility of Chief Executive Officer. Mr. McCann became Weston's Chief Operating Officer in 1997. Mr. McCann succeeds William L. Robertson, who will continue to serve as Chairman of the Board of Directors. Weston Solutions' services encompass environmental remediation, redevelopment, and management and compliance...Read More »
Versar Wins $1.1 Billion Air Force Contract
Versar, Inc. (Amex: VSR) has won the largest contract in its history with the Air Force Center of Environmental Excellence. The contract was developed to promote military readiness and will have a program ceiling of $1.1 billion over a 5-year period. This contract will be for environmental and design services for traditional military projects, and also include design and construction, housing privatization, and engineering support for military family housing and military construction. Versar, headquartered in Springfield, Va., is a professional services firm supporting government and industry in homeland defense and counter-terrorism, environmental health and safety and infrastructure revitalization...Read More »
Waste Management Names Ragiel To Head Recycle America
Waste Management Inc. (NYSE:WMI) has announced that Steven T. Ragiel has been named president of the Recycle America Alliance LLC. The Recycle America Alliance, created in January, was formed to manage the capacity and improve the profitability of recyclers. The Alliance currently includes Waste Management and The Peltz Group of Milwaukee, a major privately-held fiber recycler, and provides recycling, materials brokerage services, container processing and trading, a service that allows customers to stabilize the price of their commodities...Read More »
IESI Corporation has reported that revenue for the three months ended December 31, 2002 increased 17.7% to $56.7 million, as compared with revenue of $48.2 million for the corresponding three-month period in 2001. Income from operations for the three months ended December 31, 2002 was $3.9 million, as compared with $3.7 million for the corresponding period in 2001. For the year ended December 31, 2002, revenue increased 14.7% to $212.9 million, as compared with revenue of $185.7 million for 2001. Income from operations for the year ended December 31, 2002 was $19.9 million, as compared with $16.1 million for 2001. During 2001, the company acquired approximately $25 million of annualized revenue, including 7 new hauling operations, 7 new transfer stations, 3 new operating landfills and 2 more landfills under construction scheduled to open in mid-2003...Read More »
Startech Signs Agreement To Sell Plasma System To Polus Montana
Startech Environmental Corp. (Nasdaq: STHK), a manufacturer of plasma-based systems for the conversion of waste into useful commodity products, has announced that Polus Montana, a private company engaged by the Municipality of Bytom, Poland, has signed a sales contract to purchase a 10-ton-per-day Plasma Converter System. Polus Montana will be using Startech's Plasma Converter System to process hazardous waste products including pesticides, PCBs and other various materials...Read More »
Clean Harbors Delays Release Of Fourth-Quarter Results
Clean Harbors Inc. (Nasdaq: CLHB), which disposes of hazardous materials, last week announced it was delaying the release of 2002 fourth-quarter and full-year results, sending its shares down 23 percent in early trading. Clean Harbors said it needs additional time to work through issues relating to the acquisition of the Chemical Services Division, which it purchased from Safety-Kleen Corp in September. Those issues include discounting of environmental liabilities and the amount of reserves the company has set aside to cover those liabilities. Clean Harbors said it would release them in its 10-K regulatory filing, which is due by March 31. Clean Harbors said its environmental liabilities are expected to be about $43 million lower than the $266 million originally anticipated...Read More »
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