>> BEL notified they are being considered for Canadian index December 20; could add estimated 800,000 shares to volume
Looks like it came true, 10 days early! BEL up over 4% on nearly 300% more volume. I added here, making BEL one of my largest positions. I also like the new $12 mil contract and "one stop shopping" acquisition mentioned below.
- Kris
Bennett Environmental Included in S&P/TSX Index
Wednesday December 10, 4:24 pm ET
OAKVILLE, Ontario--(BUSINESS WIRE)--Dec. 10, 2003--Standard & Poor's Canadian Index Operations announced today that Bennett Environmental will be added to the S&P/TSX Composite Index as of the close of trading on December 19, 2003. Bennett Environmental will also be added to the S&P/TSX Small Cap and S&P/TSX Industrial Indexes.
Benefits of inclusion are increased market demand for the Company's stock from purchases from Index and some mutual and pension funds as well as increased attention and greater visibility for the Company's stock.
Bennett Environmental is listed on the Toronto Stock Exchange (Trading Symbol "BEV") and the American Stock Exchange (Trading Symbol "BEL").
Other news item:
OAKVILLE, Ontario, Dec 5, 2003 (BUSINESS WIRE) -- Bennett Environmental Inc. is a North American leader in the high temperature treatment of contaminated soils. As we approach the end of the year, this update is being released in order to inform shareholders of recent progress made by Bennett on several fronts. This includes the launching of new remediation services including new contracts, new acquisitions and the status of construction at our new facility in Belledune, New Brunswick.
Sales
In most cases, contaminated sites across North America contain varying amounts of contaminated soil and construction debris requiring offsite removal and treatment prior to recycling or end-disposal. Bennett operates treatment facilities and offers these services today. In addition, these sites often contain large amounts of lightly contaminated soil that can be safely and legally disposed of in specially engineered secure landfills. Bennett has recently concluded brokering arrangements with several firms throughout North America who operate these secure landfills. We can and now offer our customers a competitive "one stop shop" package for transportation and disposal services for all their contaminated soil and construction debris waste streams. This week, Bennett has received its first contract worth $12M US for the transportation and disposal of lightly contaminated soil destined to a secure landfill. This new service is now an on-going part of our full line of service offerings, and Bennett expects this to be a significant new portion of revenues going forward.
Acquisition of ELI Ecologic International Inc.
In its continuous search for alternative treatment technologies, this week has been very eventful for Bennett. On December 1st, Bennett closed on its acquisition of ELI Ecologic International Inc., a subsidiary of ELI Ecologic Inc. The purchase includes a pilot test facility, operating permits in Ontario, and the right to use and licence the technology world wide except for Japan. Bennett intends to improve and carry on all aspects of this business, which is complementary to Bennett's thermal treatment services. Bennett now has the ability to offer a complete range of turnkey environmentally safe remediation services.
Belledune New Brunswick Construction Update
As of this week, we have now completed all the weather sensitive work on our new facility in New Brunswick. By the end of this month the structural work on the buildings will be substantially completed. To date the project is one-third complete. This includes construction of the building, and the manufacture and any retrofit of the thermal equipment. The project is on schedule with the commissioning stage anticipated to begin in May and full operation in July 2004.
The community and surrounding region have been very supportive of the project. All levels of government remain solidly behind the proposal and have never wavered in their backing, despite strong attempts by certain special interest groups to misrepresent the long-term environmental effects of the plant. We would like to thank everyone involved in the project for their co-operation and the high level of encouragement we have received. |
