Before the opening bell this morning, General Environmental Management Inc. announced that its subsidiary, Southern California Waste Water (SCWW), is expecting this year’s revenue from servicing oil and gas producers will increase 75% over 2009.
Tim Koziol, CEO of GEM, stated, “We are pleased that this sector of SCWW’s base business continues to grow. GEM is committed to providing the resources necessary to maximize SCWW’s opportunities in the Southern California marketplace.”
“SCWW services the oil and gas industry, domestic waste generators, and general industry,” added Doug Edwards, GEM Chief Strategy Officer and SCWW CEO. “We were initially established by several oil companies to service their needs and for almost 40 years that is all we did. Then for a period of a decade we abandoned that market in favor of domestic waste and general industry. In the past three years we have re-invested earnings to expand our capabilities to service all three sectors. The result has been very satisfying as both big and small oil operators increasingly find SCWW as the best solution to their non-hazardous wastewater disposal needs.”
Edwards explained, “The growth can be attributed to several factors, including a strong marketing presence, the rise in oil prices, vertical integration through the exclusive licensed use of PetroMax and environmental services, and improved processing capacities that enable trucks to be serviced quickly and safely. We have plans that will further extend our growth in the energy sector which we plan to announce this summer.”
Mr. Koziol further commented, “While California continues to suffer from the recent recession, SCWW’s business model of diversification and integration within the wastewater business sectors has enabled the company to not only weather the storm, but to emerge stronger than ever. Still, as California’s business outlook improves, we anticipate additional growth in domestic waste and general industry sectors.”
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