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covanta holding corp (CVA) Key Developments

Covanta Holding Corporation Announces Executive Changes

Covanta Holding Corporation announced that a leadership succession plan. Anthony J. Orlando, who has served as Covanta's President and Chief Executive Officer since 2004, has announced his intention to transition from his role as President and Chief Executive Officer of the company in March 2015. Mr. Orlando will remain on the company's Board of Directors. Stephen J. Jones, who most recently served as Senior Vice President and General Manager at Air Products and Chemicals Inc., will become Covanta's President and Chief Executive Officer and a member of the Board at that time. Mr. Jones is joining the company on January 5, 2015 and will work closely with Mr. Orlando for a transition period currently planned to end on or about March 5, 2015 when Mr. Jones' appointment as President and Chief Executive Officer of the company will become effective. Mr. Jones will also be appointed as a member of the Board on the Effective Date. Mr. Jones was previously employed by Air Products and Chemicals Inc. Mr. Jones served as senior vice president and general manager, Tonnage Gases, Equipment and Energy, from April 2009 through September 2014.

Covanta Assumes Operations of the Pinellas County Resource Recovery Facility

Covanta announced that it has assumed operations of the Pinellas County Resource Recovery Facility located in St. Petersburg, FL. The company was selected to operate the facility for a 10-year term after a competitive procurement process. In addition to operations, Covanta has also commenced a number of capital projects to improve operations of the facility. Covanta brings unique experience to this new operating agreement. As the Martin GmbH Technology licensee for North America, Covanta has a 30-year track record designing, constructing, operating and maintaining EfW facilities using the Martin GmbH technology employed at the Pinellas facility. The Martin technology is also used in 23 of Covanta's facilities in North America. In addition, Covanta has over 25 years of expertise in smoothly and efficiently taking over the operations of EfW facilities built and operated by others. Of the 42 EfW facilities Covanta operates in North America, 22 were transitioned from another company. Covanta also brings world-class safety programs to its operation of the Pinellas County facility.

Covanta Holding Corporation Declares Quarterly Cash Dividend, Payable on January 2, 2015

Covanta Holding Corporation announced that the Board of Directors has declared a quarterly cash dividend of $0.25 per share, payable on January 2, 2015 to stockholders of record as of the close of business on December 24, 2014.

Covanta Holding Mulls Acquisitions

Covanta Holding Corporation (NYSE:CVA) intends to pursue acquisitions. Brad Helgeson, Executive Vice President and Chief Financial Officer, said, "Outside of the US, I think there are opportunities to acquire energy-from-waste assets. Certainly that has been the case over the last several years, and we probably could have been an acquirer in the past if we had chosen. But we are not going to acquire anything unless we see a real strategic value to it, whether it is value accretion or, of course, there is a real strategic benefit in terms of entering a new market where we see further growth. So nothing has really fit that profile yet. I don't want to set necessarily expectations that something on that front is around the corner, but it is something we will keep our eyes open for,"

Covanta Holding Corporation Presents at Barclays Select Series 2014: SMID Cap Conference, Nov-12-2014

Covanta Holding Corporation Presents at Barclays Select Series 2014: SMID Cap Conference, Nov-12-2014 . Venue: Barclays headquarters, 745 Seventh Avenue, New York, NY 10019, United States.


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Price/Sales 1.6x
Price/Book 3.3x
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