The U.S. Bankruptcy Court for the District of
New Jersey has approved the sale of Marcal Paper Mills Inc.,
Elwood Park, New Jersey, to Highland Capital Management, LP.
The sale of Marcal Paper Mills’ assets to the
second lien lenders is pending closing requirements.
Waste plans new recycling facility
Budget Waste, Inc., (BWI) headquartered in Calgary,
Canada, announced that it is proposing to open a new waste recycling
facility in the Calgary area.
This facility will have several unique features
including multiple waste stream processing, advanced post sort
processing capabilities, and the ability to produce finished
products from sorted recyclables.
The facility is currently in the planning and
layout phase and is anticipated to be fully operational by mid
to late 2008.
Plastics and Greenstar form deal
Nampak Plastics has made an agreement with Greenstar
to produce recycled content HDPE milk bottles.
The deal will see Greenstar provide Nampak
with 6,000 tons of food-grade recycled HDPE from early summer
2008. The material will help in the company’s drive to increase
the recycled content of HDPE bottles it manufactures. It has
already committed to producing a 30% recycled content bottle
in the UK during 2009, with the potential to increase this further
in the future.
names new controller
Electa Boyle has joined Tube City IMS, LLC’s
finance department as corporate controller.
Boyle, who will be based at the Company’s Glassport,
Pennsylvania, office, has more than 20 years of finance experience.
She will be responsible for the operation of the Company’s financial
and administrative processes and controls.
Prior to joining Tube City, she worked most
recently as controller of Alcoa Home Exteriors in Pittsburgh.
to acquire assets of American Allied
The Greenbrier Companies has entered into a
definitive agreement to acquire substantially all of the operating
assets of American Allied Railway Equipment Company and its subsidiaries
for $83 million in cash, plus or minus working capital adjustments.
American Allied Railway Equipment Co., Inc.
and its subsidiaries have been a supplier to the rail industry
for over 40 years.
Connections posts strong fourth quarter
Waste Connections, Inc. announced its results
for the fourth quarter 2007. Revenue totaled $247.7 million,
a 17.6% increase over revenue of $210.7 million in the year ago
period. Operating income was $49.7 million, a 13.3% increase
over operating income of $43.9 million in the fourth quarter
of 2006. Net income in the quarter was $22.8 million, or $0.33
per share on a diluted basis of 69.5 million shares.
Management noted that current period results
included approximately $2.7 million ($1.6 million net of taxes,
or approximately $0.02 per share) from higher than expected fuel
prices and the labor disruption in El Paso.
For the year ended December 31, 2007, revenue
was $958.5 million, a 16.3% increase over revenue of $824.4 million
in 2006. Operating income was $207.0 million, a 20.8% increase
over operating income of $171.4 million in 2006. Net income was
$99.1 million, or $1.42 per share on a diluted basis of 70.0
million shares. In 2006, the Company reported net income of $77.4
million, or $1.10 per share on a diluted basis of 70.4 million
board declares quarterly dividend
The board of directors of Schnitzer Steel Industries,
Inc. declared a cash dividend of $0.017 per common share, payable
on March 3, 2008, to shareholders of record on February 18, 2008.
Schnitzer has paid a dividend every quarter since going public
in November 1993.
named VP and general manager at ABB
Aaron Aleithe has been named vice president
and general manager of Low-Voltage Drives at ABB Inc., Automation
Products, according to Rick Hepperla, regional division manager
for Automation Products in North America. Aleithe fills the position
Hepperla held before his recent promotion to division manager.
In his new role, Aleithe will be responsible
for the continued growth and strategic business development of
low voltage drives in the United States market. He also will
serve as a member of the ABB Global LV Drives Business Unit team,
and as a member of the North America Automation Products Division
management team. Aleithe joined ABB in 2005 as vice president
of business development for ABB’s global Medium Voltage Drives
business. He was promoted to vice president for the Medium Voltage
Drives business in North America in 2006 and named general manager
for the Medium Voltage Motors and Low Voltage Motors businesses
in North America.
Fuels appoints new board member
BioGold Fuels Corporation has appointed Moshe
Krienberg to serve as a member of its board of directors. Krienberg
has over 30 years experience as a process and chemical engineer.
BioGold appointed Munetka Ikeda as its executive
vice president of Asian Operations. Ikeda has a background in
engineering waste processing and waste to energy plants.
reports record growth in 2007
IronPlanet, an online auction company for used
construction and agricultural equipment, continued to gain significant
marketplace momentum in 2007, with gross auction sales of $231
million, an increase of more than 42 percent over 2006. Fourth
quarter gross auction sales totaled $84 million, up 75 percent
over the third quarter and up 65 percent over the same period
In 2007 IronPlanet strengthened its relationships
with key OEM partners, dealers, contractors, rental companies
and other equipment sellers, increasing the average auction size
to more than $10 million gross auction sales in the fourth quarter,
an improvement of more than 50 percent over the same period last
year. IronPlanet averaged more than 500 lots per auction in the
fourth quarter, an increase of 25 percent over the same period
completes sale of Baltimore facility
Perma-Fix Environmental Services, Inc. announced
that it has completed the sale of Perma-Fix of Maryland, Inc.,
one of the company’s Industrial Segment facilities located in
Baltimore, Maryland, to Triumvirate Environmental, Inc. for $3.825
million in an all cash transaction, subject to certain possible
working capital adjustments during the first half of 2008.
Triumvirate Environmental is a full service
environmental management firm headquartered in eastern Massachusetts.
Triumvirate purchased certain assets of the facility and assumed
announces new vice president
Tube City IMS, LLC, a provider of products and
services to steel mills and foundries throughout the United States,
Canada, Europe, Mexico, South America and Asia, announced that
Hank Wilson has been appointed to the new position of vice president
- North American Sales and Business Development. He will work
in the Company’s offices in Birmingham, Alabama.
Wilson, who most recently held the title of
vice president - Southern Region at the Company’s Fairfield,
Alabama, operation, will be responsible for coordinating the
sales of scrap substitutes throughout North America, and oversee
the scrap marketing efforts for the Company in the Midwest, South
and Western United States, said J. David Aronson, executive vice
president - Outsource Purchasing, Tube City IMS.
Prior to joining the Company in 1998, Wilson
worked at Steiner-Liff Industries in Birmingham as president
of its Shredders, Inc. division.
Wilson, who has more than 25 years of experience
in the scrap, iron and steel industry, has a bachelor’s degree
in finance from Miami University of Ohio in Oxford, Ohio.
names Brooks as facilities manager
Mike Brooks has been named the new manager of
the Mt. Pleasant, Muscatine, and Creston City Carton Recycling
Brooks will oversee operations of the three
facilities. He is responsible for implementing products and services
marketing plans for the plants, with goals to maximize customer
service, vendor relations, sales, and profits. Brooks is also
responsible for building needs, equipment needs, and personnel
at the recycling locations. He will report to City Carton Recycling’s
Southern Division manager, Tim Ockenfels.
Brooks has over 35 years experience in management
and operations. For ten years prior to joining City Carton Recycling,
Brooks worked for Hawkeye Foodservice Distribution, serving as
vice president and general manager.
plans to begin share repurchases
Harsco Corporation announced that it plans to
begin the repurchase of an undetermined number of shares of the
Company’s common stock under its previously approved stock repurchase
The Company said that the repurchases will
be made in open market transactions at times and amounts as management
deems appropriate, depending on market conditions. Any repurchase
may commence or be discontinued at any time.
Norm England submits resignation
The Rechargeable Battery Recycling Corporation
(RBRC) announced the resignation of Norm England, its longtime
president and CEO.
England served as president/CEO of RBRC for
over eight years. During that period, RBRC’s collections of used
nickel cadmium rechargeable batteries increased by almost 100%
and RBRC expanded its program to collect and recycle additional
battery chemistries and used cell phones. During England’s tenure,
RBRC recycled over 36 million pounds of material.
Energy appoints new director
GreenHunter Energy, Inc. announced the appointment
of Jack W. Zedlitz as the director of corporate communications.
Zedlitz was formerly employed with Capital
West Securities, Inc. in their Corporate Finance group, where
he was responsible for equity and debt financing for Capital
West’s corporate clients. Zedlitz worked with GreenHunter Energy
on the Company’s latest equity capital raise of $19.2 million
completed in December 2007.
names Randy Berry as VP of inspection
IronPlanet™ appointed Randy Berry to the position
of vice president of inspection and appraisal services. Berry
will be responsible for scaling IronPlanet’s Inspection Services
organization and capabilities as the company continues to grow.
Additionally, Berry will launch IronPlanet’s equipment appraisal
service to customers.
Berry has more than 25 years of experience
improving business performance in Fortune 1,000 companies. He
worked for 14 years with Accenture Ltd., most recently as partner
in the firm’s supply chain management consulting practice. Berry’s
experience also includes an operations management role with high-tech
bellwether Apple, and a role in new business development for
the world’s largest valuation consulting firm, American Appraisal.
Berry is a graduate from the Georgia Institute
of Technology, with a B.S. in Industrial Management.
Egender joins Sokolis Group
Sokolis Group, a developer of strategic fuel
management programs, has named McKenzie D. Egender as senior
account manager - consultant.
As a key business developer and client liaison,
McKenzie will draw from her diverse experience to help Sokolis
Group clients reduce fuel costs by securing more favorable product
pricing, improving fueling process efficiency and streamlining
of sales chosen at Texas Recycling/Surplus
Texas Recycling/Surplus, Inc., headquartered
in Dallas, Texas, has named Kathy DeLano vice president - sales.
DeLano, who joined the company in March, 2006,
as a sales representative, will be responsible for overseeing
the procurement of material for the company’s paper and plastic
Resources merges with Austin Shred
Balcones Resources, an independent recycler
of high-grade paper and provider of comprehensive environmental
services in the Southwest, announced its merger with Austin Shred,
an offsite provider of secure document destruction services.
Under the terms of the agreement, Austin Shred
will function as the central Texas arm of Balcones’ secure document
destruction operation. Shane Mericle will serve as vice president
of operations for Austin Shred under the merger.
Effective January 1, 2008, the company will
officially be known as “Austin Shred, a Balcones Resources company.”
Financial terms of the deal were not disclosed, but are said
to be a cash and stock combination.
appointed for EPA Region 7
Ron Hammerschmidt, director of the Division
of the Environment at the Kansas Department of Health and Environment,
has been hired to lead the Environmental Services Division for
Region 7 of the United States Environmental Protection Agency.
Hammerschmidt’s new role will include supervision
of scientists, chemists and engineers who handle field activities,
a testing laboratory and technical support.
Waste closes $33.9 million in revenue bonds
Allied Waste Industries, Inc. announced that
its wholly-owned subsidiary, Allied Waste North America, Inc.,
successfully completed the offering of $33.9 million in principal
amount of California Municipal Finance Authority Solid Waste
Revenue Variable Rate Demand Bonds (Allied Waste North America,
Inc. Project) Series 2008A, due 2024.
The offering is backed by a letter of credit
as credit enhancement for the bonds. Inclusive of the letter
of credit fees, the initial all-in cost to Allied is approximately