Veolia Environnement (VE) announced that its unit Veolia Environmental Services North America Corp. (“VESNA”) has opened a new recycling facility in West Bridgewater, Mass. This facility will replace the Stoughton facility operational since 2000. The company has relocated all the employees of its Stoughton facility to this new site.
The primary objective of this new recycling facility is to reclaim maximum volume of hazardous materials from electric and lighting waste, preventing it from entering the waste stream. This facility will utilize the latest technology for recycling fluorescent lamps, ballast, batteries, computer electronics and mercury-bearing waste.
The new processing equipment fitted in the facility will increase the reclaiming capacity of Veolia Enviornnement, and will allow recovery of more than 99% of a fluorescent lamp, by weight. Moreover, the company will be equipped to treat higher volumes of waste in this facility. Veolia currently processes 15.5 million pounds of lighting and electronic waste annually and reclaims over 155 lbs. of elemental mercury from recycling.
In the half year ended Jun 30, 2013, Veolia registered an increase in North American revenue due to higher volume of hazardous waste and rise in activity levels in the petrochemicals and refining sectors. Thus, the startup of this new facility could not have come at a better time. The facility will have a locational advantage and enable VESNA to cater to customers in the Northeast and Mid-Atlantic states.
The decision to open this advanced recycling facility is appreciable as it will lower the volume of hazardous material going into a landfill. We expect this facility to generate higher returns for Veolia, as the rising industrial activity in North America will ensure a steady flow of materials required to be recycled.
Veolia Environnement currently has a Zacks Rank #3 (Hold) and also runs water services in the U.S. Other water operators in the country presently having a favorable Zacks Rank are Connecticut Water Service Inc. (CTWS), Consolidated Water Co. Ltd. (CWCO) and SJW Corp. (SJW). Connecticut Water Co. and SJW Corp presently carry a Zacks Rank #2 (Buy) while Connecticut Water Service has a Zacks Rank #1 (Strong Buy).
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