- From: Vol 11, Issue 12 (December 2010)
- Category: Brief
- Region: Europe
France, Germany, Italy, Spain and United Kingdom
- Related Companies: Acquedotto Pugliese, Biwater, Dr. Hönle AG, Energy Recovery Inc, Hamworthy , Moody’s, United Utilities and UV-Technik Speziallampen GmbH.
* The nine Paris suburban towns which earlier this year broke away from the regional government authority to form Est Ensemble have voted to remain part of SEDIF – at least until 31 December 2012.
This is the deadline set by Est Ensemble for the receipt of studies into alternatives. SEDIF renewed Veolia’s water services contract in June.
* Listed German technology company Dr. Hönle AG has entered the market for water sterilisation by purchasing a 51% stake in UV-Technik Speziallampen GmbH. The acquired entity has annual turnover of approximately €6.5 million.
* Moody’s has changed the outlook on the Baa3 senior unsecured rating of Acquedotto Pugliese SpA (AQP) to positive from stable. The move reflects the positive trend in AQP’s key credit metrics in 2010, supported by a 6.57% tariff increase implemented in January 2010, according to Moody’s analyst Raffaella Altamura.
* Hamworthy has delayed the roll-out of the ballast water treatment system it acquired through the Greenship acquisition, as it claims the system requires further development. The decision means that Hamworthy considers that it is not liable to pay any deferred consideration under the acquisition agreement.
* United Utilities has appointed Steve Mogford as its chief executive designate, in anticipation of Philip Green’s departure in March next year. Mogford is currently CEO of defence electronics company SELEX Galileo, which is owned by Finmeccanica.
* Biwater Holding has completed its strategic realignment by agreeing to sell its £145 million-a-year subsidiary Biwater Services to MWH. The move will end Biwater’s participation in the regulated UK water market, and follows the sale of Cascal to Sembcorp earlier this year.
* Water technology company i2O Water has successfully completed a £10 million fundraising round from existing shareholders, including Swarraton Partners, Nemadi Advisors and Naxos Capital Partners.
* ERI has secured the energy recovery contracts for the Moncofa and Oropesa desalination plants in Spain, which will have a combined capacity of 80,000m3/d.