Stock Profile: Bennet Environmental Symbol: BEV (TSE)

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Stats as of 5/25/01

• H/L Ratio: 1.80 • RS: 87.6 • Shares: 10,051,114 • P/E: n/a • Price: $5.25

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Environmental remediation may seem to be a relatively modern phenomenon, but Bennett Environmental, in fact, has been engaged in the business for over thirty years. The company specializes in thermal treatment of hydrocarbon contaminated soil including chlorinated hydrocarbons such as PCBs, dioxins and furans.

Its Mark IV Thermal Oxidizer operates with 99.99999% efficiency. Contaminated soil goes in. Reusable soil comes out. The contaminated soils are combusted at extremely high temperatures to separate, remove and destroy the contaminants. Bennett is one of only two facilities permitted to treat PCB contaminated soils in Canada and is authorized to treat contaminated soil from the U.S. The company operates one primary facility, the Récupère Sol Inc. plant in St. Ambroise, Quebec.

The year 2000 saw Bennett's revenues drop drastically due to increased competition from landfills. But the company addressed the problem, forging strategic alliances in August and September with Onyx Environmental Services, a subsidiary of the French company Vivendi, and IT Corporation, one of the largest site remediation companies in the U.S. This will give Bennett access to a large U.S. sales network as well as a five-year contract to handle a minimum tonnage of soil remediation contract work. The deals also spurred the building of a second facility in Ontario. This should add stability to Bennett's operations with increased revenues and a stronger market position.

In May the company announced $38 million of new contracts to run from Q2 2001 through 2002. This is more than four times the revenues for all of 2000.

The company returned to profitability in the first quarter of 2001 after a year in the red.

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