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Thursday, February 6, 2014

Rigs and tadpoles to bring growth as water business stagnates -Veolia, (NYSE: WM)

Veolia Environnement is seeking growth in dismantling oil rigs, tracking endocrine disruptors with tadpoles and recovering copper from mining waste water as its traditional water business stagnates, its chief executive said on Thursday. With a two-year cost-cutting and debt-reduction plan largely done, the water, waste and energy group is targetting areas with high growth potential, Antoine Frerot said.The group is investing heavily in toxic waste treatment, dismantling oil rigs and nuclear plants, waste management for the agrifood sector, water treatment for the mining industry and environmental services for the oil and gas industry, he said. Recycling and urban services are also in the frame."Each of these sectors have huge potential and we expect markets of several billions of euros and for some tens of billions," Frerot told a briefing about corporate strategy.Its traditional water business, which still represents 47 percent of its sales, is under pressure because of Europe's economic slowdown, regulatory limits on concession length and increasing preference for municipal ownership of water networks that saw Veolia lose its landmark Paris concession in 2010.

Waste Management, Inc. (WM) is a provider of waste management services in North America. Shares of WM traded higher by 0.48% or $0.2/share to $41.70. In the past year, the shares have traded as low as $35.50 and as high as $46.38. On average, 2374690 shares of WM exchange hands on a given day and today's volume is recorded at 568320.