Key Developments: Calgon Carbon Corp (CCC.N)
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Latest Key Developments (Source: Significant Developments)
Calgon Carbon Corp Secures 10-Year Contract For Reactivation Services
Calgon Carbon Corp announced that Thames Water (Thames), the provider of drinking water and wastewater services in the U.K., has awarded Chemviron a 10-year contract to reactivate spent activated carbon used to treat drinking water. The value of the contract is dependent upon the amount of carbon that is reactivated annually, which is expected to be approximately 11 million lbs (5,000 MT). Chemviron Carbon will reactivate the spent carbon at its Tipton plant (Tipton) near Birmingham, U.K., following a $9.5-million renovation and expansion of the facility, which is expected to be completed in 2014. The plant`s production capacity will be increased from approximately 13 million lbs (5,800 MT) to 18 million lbs (8,200 MT). Until the project is completed, Thames`s carbon will be reactivated at Chemviron Carbon`s facilities in Grays, UK and Feluy, Belgium. Full Article
Calgon Carbon Corp Issues Q2 2013 Revenue Guidance In Line With Analysts' Estimates-Conference Call
Calgon Carbon Corp announced that for second quarter of 2013, it expects sales to increase sequentially, but to total less than second quarter of 2012 sales which were $148.4 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $145.6 million for second quarter of 2013. Full Article
Calgon Carbon Corp Secures Contract To Supply FLUEPAC For Mercury Removal
Calgon Carbon Corp announced that it has been awarded a contract by a major U.S. power generator to supply FLUEPAC brominated powdered activated carbon (PAC) to remove mercury from the fluegas of coal-fired power plants in the Midwest. The value of the contract is estimated to be $16 to $22 million. The two-year contract follows the expiration of a five-year, take-or-pay supply agreement between the two companies. Calgon Carbon will provide certain electric generating units with 100% of their activated carbon requirements for mercury removal for a period of two years. The agreement includes an option to extend the contract through 2015. Under terms of the agreement, the price of the FLUEPAC carbon will be adjusted annually based on certain Producer Price indices which are published by the U.S. Bureau of Labor Statistics. Full Article
Calgon Carbon Corp Secures $12.4 Million Contract
Calgon Carbon Corp announced that it has been awarded a contract by the Los Angeles Department of Water and Power (LADWP) to supply Sentinel Ultraviolet Disinfection Systems (UV systems) for the Los Angeles Aqueduct Filtration Plant (LAAFP) and the Los Angeles Reservoir (LAR). The contract is valued at $12.4 million. Full Article
Calgon Carbon Corp Announces $50 Million Accelerated Share Repurchase Program
Calgon Carbon Corp announced that it has entered into an accelerated share repurchase (ASR) agreement with Morgan Stanley & Co. LLC to repurchase an aggregate $50 million of the Company’s stock. The ASR is part of the Company’s share repurchase program and supersedes any previously announced share repurchase program. Under the agreement, Calgon Carbon will receive approximately 3.3 million shares at the inception of the ASR. The total number of shares ultimately repurchased under the agreement will be determined upon final settlement. The number of shares to be delivered at the completion of the program, net of the initial delivery, will be based primarily on the volume-weighted average price of Calgon Carbon common stock during the repurchase program. The Company anticipates that all repurchases under the ASR will be completed no later than the third quarter of 2013. The ASR will be funded through the Company’s U.S. revolving credit facility. As of September 30, 2012, the Company had approximately $118 million available under its existing U.S. line of credit. Full Article
Calgon Carbon Corp Announces Share Repurchase Authorization For Up To $100 Million Of Common Stock
Calgon Carbon Corp announced that its Board of Directors has approved a share repurchase program for up to $100 million of the Company’s outstanding stock. The Company may use its existing credit facility, cash on hand, and cash generated from operations to fund the share repurchase program. As of September 30, 2012, Calgon Carbon had availability under its U.S. revolving credit facility of approximately $118 million and cash and cash equivalents of approximately $19 million. Full Article
Calgon Carbon Corp Does Not Declare Dividend
Calgon Carbon Corp announced that board of directors did not declare a quarterly dividend for third quarter ended September 30, 2012. Full Article
Calgon Carbon Corp Secures Contract For Removal Of SOx And NOx From Steel Plant Flue Gas
Calgon Carbon Corp announced that its wholly owned subsidiary, Calgon Carbon Japan (CCJ) has been awarded a contract to supply approximately 5.3 million pounds of activated carbon to BlueScope Steel in Australia for removal of sulfur oxide (SOx) and nitrogen oxide (NOx) from exhaust gases at one of its steel manufacturing facilities. Terms of the Agreement were not disclosed. Deliveries of activated carbon will begin immediately and continue throughout 2013 to BlueScope`s Port Kembla, New South Wales, Australia facility. BlueScope Steel has operations in Australia, New Zealand, Asia, and North America. Full Article
Calgon Carbon Corp Issues Q3 2012 Revenue Guidance Below Analysts' Estimates-Conference Call
Calgon Carbon Corp announced that for third quarter of 2012, it expects revenue will be down sequentially. The Company reported revenue of $148 million in the second quarter of 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $157 million for third quarter of 2012. Full Article
Calgon Carbon Corporation Secures 10-Year Contract For Reactivation Services
Calgon Carbon Corporation announced that the Company and the city of Scottsdale, Arizona (Scottsdale), have signed a ten-year contract to provide reactivation services for activated carbon used to treat the city’s drinking water. The value of the contract will depend upon the amount of spent activated carbon that is reactivated annually, which is expected to be approximately GBP6 million. Full Article

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