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Full year results suggest that water is being left behind by energy at Suez. Is it time for a demerger?
Veolia took the biggest water deal of the year just before Christmas when it was awarded a 50-year contract for outsourcing water services in the city of Shenzhen worth €8.5 billion.
The quoted water sector recovered in 2003, but big water was left behind.
Low tariffs are one of the most significant barriers to the expansion of desalination.
ITT Industries continued to build its position in the water sector with the 3 million acquisition of Wedeco, a German manufacturer of ozone oxidation and ultraviolet (UV) disinfection equipment.
Veolia’s third-quarter figures showed top line sales dip 1% to €8,334 million, primarily as a result of a 4.9% negative exchange rate movement.
See attached image.
The courts have provided Covanta Tampa Construction with more time to get the Tampa Bay desalination facility to meet its performance targets.
Actually it has been a good year for the Millennium goals.
The private water industry was up 6.1% in 2003 despite high-profile contract losses.