Solid Waste & Recycling

Feature

Hot Sector News (January 01, 2001)

The fall, there were a number of major acquisitions and divestitures in the industry.Waste Management Inc. (WMI) of Houston, Texas continued its divestiture of non-core operations. It sold nine waste ...


The fall, there were a number of major acquisitions and divestitures in the industry.

Waste Management Inc. (WMI) of Houston, Texas continued its divestiture of non-core operations. It sold nine waste collection operations, 11 landfills and seven transfer stations to Waste Corporation of America for US$120-million. WMI and Sony Electronics announced the formation of a new electronics-recycling program in Minnesota. This venture will allow consumers to bring used Sony products to designated drop-off points across the state at no cost.

Duke Energy Corp. of Charlotte, North Carolina made major acquisitions. Duke purchased WMI’s power plant operations in four states for US$81-million. In a joint venture with united American Energy Corp., Duke Energy North America purchased two American Ref-Fuel facilities and took operational control of four others from Allied Waste Industries. The Duke/UAE Ref-Fuel joint venture is one of the largest waste-to-energy providers in the US, producing 363 megawatts from 5.5 million tonnes of municipal waste per year.

Solid Waste Index Symbol Exchange $Jan98 $Sep00 $Novt00 %Index %Change Shares $OrigValu $CurValu
Allied Waste Industries Inc. AW N.Y 20.38 9.81 13.5 10 37.61 37 750 496
Capital Environmental Res CERI NASDAQ 11.00 3.88 2.75 10 -29.12 68 750 187.5
Casella Waste Systems Inc. CWST NASDAQ 24/75 1-/13 4/6 1- -54.59 30 750 139
Imco Recycling Inc. IMR N.Y 16.75 6 4.94 5 -17.67 22 375 110
Marsulex Inc. MLX T.O 6 2.96 3 5 1.35 63 375 187.5

Republic Services Inc. RSG N.Y 24 13.13 15.31 10 16.60 31 750 478

Safety-Kleen Corp. SK N.Y 15.75 0.17 0.15 10 -11.76 48 750 7

Vivendi Environnement (Euro) VIE Paris 34 42 45.5 10 8.33 22 750 1003

Waste Connections Inc. WCNX NASDAQ 12 25.63 26.13 10 1.95 63 750 1632

Waste Recycling Group plc WRC London 3.25 4.29 4.31 10 0.47 231 750 994

Waste Management Inc. WMI N.Y 23.75 17.44 24.69 10 41.57 32 750 779

Total 100 $7,500 $6,017

(Note: numbers rounded, * denotes weighting change)

Statistics

Starting Point Jan 98 Sept 00 Nov 00 Percentage Return
Solid Waste Index 7500 5736 6017 4.90%
DOW 7322 10650 10470 -1.69%
TSE Composite 6700 10377 9024 -13.04%

Technical analysis: The Waste Index is calculated on a bimonthly basis. In order to maintain consistency and to meet the publishing deadline, it’s calculated on the last Friday of the second month of the given time period. The graph is plotted on a biweekly basis and the final point on the graph represents the closing values for the three indices Friday Nov. 25. The index was started at a value of 7500 points so that its magnitude is in the same range as the DOW and the TSE. It’s made up of a proportional representation of the firms listed, broken down by the itemized percentages. Share quotes ignore currency.


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