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Agbar realigns management along geographical lines

Recently-appointed executive president Ángel Simón has rejigged Agbar’s top management to adapt the company to its new role as a subsidiary of Suez Environnement and to “the current climate of global competition”.

The new management board is made up of 13 people, including three directors with responsibilities for specific geographical...

Wabag on the road in Asia ahead of Indian IPO

As the GWI Weekly Briefing went to press, senior officials at VA Tech Wabag were preparing for the second leg of a two-day international roadshow aimed at promoting the company’s upcoming initial public offering.

CEO Rajiv Mittal and CFO Subramanian Varadarajan are leading the team meeting with investors in Singapore on 5th August and Hong Kong on 6th August, the...

Suez Environnement revises 2010 growth projections

A positive set of first-half results earlier this week allowed Suez Environnement to raise its full-year revenue and EBITDA growth projections to a minimum of 7% and 9%, respectively*.

First-half EBITDA rose by 7.2% to €1.0 billion on revenues of €6.6 billion (up 10.8%), driven by a strong performance in the group’s International division, where revenues...

Mitsui to enter Chinese water sector via Hyflux JV

Mitsui has agreed to pay ¥10 billion ($116 million) for a 50% stake in a new joint venture which will control a portfolio of Chinese water and wastewater treatment assets originated by Hyflux.

The deal marks Mitsui’s entry into the Chinese water infrastructure sector, and involves the delisting of Hyflux Water Trust – the vehicle set up by Hyflux in 2007...

American Water shares up after consensus-beating Q2

Hot weather in the north-eastern United States helped American Water to beat the market’s quarterly EPS consensus by $0.07 when it announced its Q2 results last night.

A 40% rise in net income to $72.8 million on second-quarter revenues of $671.2 million (up 9.5%) helped the company to generate earnings per share of $0.42, and enabled a simultaneous upward...

Kemira reports strong first half growth in revenues

Finnish water treatment chemical specialist Kemira posted positive half-year results on 29 July, reporting that revenues for January-June 2010 were up to EUR1,059.9 million, a 7% rise compared to last year. Second quarter growth was even more pronounced – revenues were up by 12% to EUR545.2 million compared with Q2 2009, while Kemira’s share price has...