Suez has announced its results for 2001 which show that SITA's revenues increased by 5.1%, to 5,287 million Euros last year. This has been a result of the company's “heightened presence in waste treatment and waste-to-energy conversion”. And Suez commented on the “significant progress” SITA has made with industrial customers which includes the company's entrance into the industrial hazardous waste treatment market in the USA.
Grard Mestralllet, chairman and chief executive officer of Suez, said: “In 2002, Suez continues to grow thanks to its international coverage, rigorous and selective investment policy, sound financial structure, and ongoing rationalization efforts to improve group performance.”
Mr Mestrallet added that organic growth is up 7.1% partly a result of SITA's work in sludge treatment and biogas waste-to-energy conversion. But lower landfill rates in the United Kingdom and reduced prices for recycled paper in Germany have hit the company's profits.
Achilleas Georgiou, spokesman for SITA UK, confirmed that the company had faced pressure on landfill prices “which reflects the competitive nature of landfill at the moment in various parts of the country.”
On a more positive note, he said SITA was looking at a number of opportunities beyond landfill. And, he added that the merger with United Waste Services was going well and would bring new opportunities.
Register for free to comment