Augean Share Discussion Threads

[qs9] 11/9/2009 09:52

What is the general view on this stock? Anyone?

[lbo] 10/9/2009 20:32

Commercial development activity last month rose for the first time in nearly two years, research from Savills has shown.

[lbo] 09/9/2009 20:47

Shanks is highly leveraged to a recovering economy

[lbo] 07/9/2009 11:14

Augean has confirmed that it is currently considering the possibility of generating electricity from wind power at its new Port Clarence Waste Recovery Park on the north side of the River Tees.

The firm has applied for a "scoping opinion" - an initial stage prior to submitting a planning application, for the turbines which could reach up to 126 metres high. The scheme would be located at the park near Augean's existing landfill site on Huntsman Drive - close to several areas of natural importance on Teesmouth including the newly opened bird reserve at Saltholme

[lbo] 12/8/2009 00:10

Thermal Desorption opens at Waste Recovery Park

[lbo] 03/8/2009 19:25

One51 plans 'potential listing' of top division

[lbo] 20/7/2009 21:31

Another Article in the irish independent says One51 shares on Davys grey market have fallen from €6 to €3 in the last two years. It names many Irish high profile investors have lost money. Padraig Harrington,Michael Fingelton (Irish Nationwide 72000 shares), Denis O'Brien, Eugene Murtagh, Larry Goodman (€3.3m stake), Barry Maloney (€790k stake)

[lbo] 13/7/2009 16:03

Augean hopes for slice of nuclear contracts

[1775] 09/7/2009 09:04

I still believe aug.will be taken out this year based on soundings from within the industry.

[value viper] 08/7/2009 13:16

someone dumping (it seems) big wadges now takeover talks over - but guess someone is likewise buying up the stock on the other side.

[lbo] 24/5/2009 18:07

Investment holding group On€51 turned in earnings before interest last year of €52.2 million on revenues of €433 million. The EBITDA figure was in line with earlier company forecasts of between €50 and €55 million, and reflects how the trading performance of the group stood up to the economic downturn



Shareholder Letter - May 2009

We are also the leading handler of hazardous waste in Ireland. Our recent acquisition of UK hazardous waste operator Future Industrial Services is helping us with our goal to become one of the leading hazardous waste operators in the UK. We are continuing to review our options with regard to UK hazardous waste company, Augean plc

[lbo] 20/5/2009 22:21

Waste outshines gold as prices surge
By Max Hogg


May 15 2009 23:27

It has become the latest – and perhaps most unlikely – sector to nourish the green shoots of economic recovery: the price of recyclable rubbish has doubled since November, outperforming traditional commodities.

Prices for plastic and paper have surged from a dramatic crash last year. Languishing at £19 per tonne of material in November 2008, cardboard has trebled to a price of £59 per tonne in May 2009, above the 2004-08 average price of £53 per tonne. PET plastic, used in drinks bottles, has risen almost as strongly, more than doubling from £75 per tonne in November to £195 per tonne in May, well above the long-term average of £156 per tonne.

In comparison, the price of gold has risen by 14 per cent, crude oil by 16 per cent and the FTSE 100 by less than 2 per cent in the same time period. And with the incentives in favour of recycling presented by the government's landfill tax, it is no surprise that Nigel Aitchison of Foresight, the venture capitalists, considers the waste management sector a "timely place" to invest.

Once considered plain old rubbish, commercial and municipal waste is now a valuable global commodity. The UK recycling sector is worth £12bn, and the government's Waste and Resources Action Programme predicts it will expand to £20-30bn by 2025.

But the sector has been hit hard by the collapse in commodity prices worldwide.

"It's been a bit of a white-knuckle ride in the past few months," said Ian Wakelin, chief executive of Greenstar UK, a recycling and waste management company. "You woke up one morning and prices for recycling had collapsed. Demand had just disintegrated."

"On average, prices dropped 70 to 80 per cent from their peak. We reduced production levels, cut costs by laying people off, and were forced to go back to our customers and put prices up where we could. Then we just had to tough it out."

The price of recycling tends to track the price of non-recycled commodities closely; if the price of plastic drops, the price of used drinks bottles is likely to drop dramatically.

The remarkably quick recovery can be explained by two factors: the lower volumes currently being traded in the sector, and the resilience of the overseas market for waste.

"Prices are increasing because volumes are down by around 40 per cent on last year," said George Broom, owner and general manager of Environmental Support Services, a commercial cleaning and recycling services company. "The crash has taken some of the players out of the market."

[1775] 20/5/2009 07:32

According to last Fridays FT. the cost of dumping on landfill sites is increasing rapidly - might see a bit more movement in the share price again soon.

[lbo] 13/5/2009 09:00

Site the target for radioactive waste



12 May 2009
A landfill site could soon start taking radioactive waste if plans are approved.

[battlebus] 01/5/2009 20:13

Sometime soon we will be taken out, won't we?

[cerrito] 30/4/2009 21:33

LBO appreciate keeping us up to date with this; when I first read it I did not see much potentail link with AUG but they way the price zoomed up late this pm suggests something is a foot.

[lbo] 29/4/2009 11:56

Could One51 be about to focus on the Augean bid now? I still don't expect them to bid.

Moonduster drops ICG offer bid

[lbo] 25/4/2009 18:33

Irish Ferries deadline extended
By John Murray Brown

Published: April 21 2009 03:00

The battle for control of Irish Ferries looks set to continue, with the Irish take over panel giving the privately owned Moonduster consortium another eight days to submit a formal offer, after which it will be barred from bidding for 12 months.

The panel extended yesterday's deadline until April 29 after Moonduster, headed by Philip Lynch, a former chief executive and chairman of IAWS, the food company, asked for more time to put its financing in place.

Moonduster is understood to have indicated it is ready to pay €14-€15 a share for Irish Continental Group (ICG), the listed parent of Irish Ferries, valuing ICG at €350m-€375m (£311m-£333m).

However, brokers believe Moonduster will have to offer "something north of €18.50" for the independent ICG directors to recommend the bid.

For almost two years, ICG has been the subject of a three-way tussle between Mr Lynch, Eamonn Rothwell, ICG chief executive, and Liam Carroll, a reclusive Dublin property developer.

Moonduster, which owns 24.92 per cent, is headed by Mr Lynch's One51 investment company, but includes the Cork-based Doyle shipping company. Mr Rothwell, who has 16 per cent of ICG and effectively put the company in play with a unsuccessful management buy-out in March 2007, is now sided with Mr Lynch. Mr Carroll owns 29.25 per cent.

Like many property developers, Mr Carroll is under pressure from his bankers and last year he sold a stake in Aer Lingus at a reported loss in what was interpreted as a cash-raising exercise. Brokers speculate that, in asking for more time, Mr Lynch may be seeking to put pressure on Mr Carroll to settle for a lower price.

According to those close to the deal, Mr Carroll paid as much as €25.75 a share for his stake, and an average price of €22. The scramble for shares back in 2007 saw the price peak at €26.46. The shares were unchanged yesterday at €14.50.

Unlike most Irish companies, ICG is virtually debt-free. Earnings before interest, tax, depreciation and amortisation rose from €59m in 2006 to €80m in 2007.

Brokers say 2006 was the first year the company enjoyed the full financial benefit of a cost-reduction programme, which included the controversial use of non-Irish ferry crews, an issue that caused large-scale trade union protests.

Moonduster is understood to be interested in developing a 33-acre site at Dublin port, which ICG owns. Under a scheme of arrangement, Moonduster needs 75 per cent of acceptances, rather than the 90 per cent under a traditional takeover.

The takeover panel has twice had to intervene in the process. In 2007, Moonduster was censured over the way it acquired ICG shares from a fund called Octavian. Last year, at ICG's request, the panel also looked into the possibility that Moonduster was linked with a UK fund called Arkaga, which acquired a 5 per cent stake. In December, the panel said it was dropping the investigation but reserved the right to re-open the probe if further evidence came to light.

The takeover battle is keeping Dublin's corporate finance community busy, with Moonduster advised by Davy, Mr Rothwell by Goodbody, the independent board by NCB and Mr Carroll by a partner at KPMG.

[1775] 24/4/2009 14:16

still very - in time!!

[deep powder] 21/4/2009 07:16

All gone very quiet here, what do we think the chances of the bid materialising are??

[lbo] 27/3/2009 15:05

BlackRock Group added a few shares





Big infrastructure projects such as London's Olympic site are a key to Augean's short-term prosperity as debt gradually reduces. A bid seems increasingly unlikely, but the shares are already modestly valued. Still good value.