Montgomery Watson nails record revenues, completes acquisition.Montgomery Montgomery, city, United States Montgomery, city (1990 pop. 187,106), state capital and seat of Montgomery co., E central Ala., near the head of navigation on the Alabama River just below the confluence of the Coosa and Tallapoosa rivers, and in the rich Watson Inc. completed the acquisition of a $27 million (revenue) hazardous waste Hazardous waste Any solid, liquid, or gaseous waste materials that, if improperly managed or disposed of, may pose substantial hazards to human health and the environment. Every industrial country in the world has had problems with managing hazardous wastes. firm just after posting record revenues for fiscal 1994, company officials said last week. Pasadena-based Montgomery Watson completed the acquisition of 220-employee, Madison Madison, cities, United States Madison. 1 City (1990 pop. 12,006), seat of Jefferson co., SE Ind., on the Ohio River; settled c.1806, inc. 1838. It is a port of entry and a tobacco marketing center. , Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. .-based Warzyn Inc. on Oct. 3, said Jim Lackman, general counsel for Montgomery Watson. Lackman said Montgomery Watson bought Warzyn for a combination of stock and cash. He declined to reveal any more details of the deal, noting Montgomery Watson is privately held by 400 employees and Warzyn is privately held by about 20 employees. With the completion of the Warzyn acquisition, Montgomery Watson is now a $350 million (revenue) environmental management firm and one of the top three environmental engineering firms in the U.S., as ranked by the San Diego-based Environmental Business Journal. Montgomery Watson also announced last week that revenues grew by 28 percent in the fiscal year ended Sept. 30. Revenues for fiscal 1994 were $335 million, compared with $261 million the year before, said Michael Michael, archangel Michael (mī`kəl) [Heb.,=who is like God?], archangel prominent in Christian, Jewish, and Muslim traditions. In the Bible and early Jewish literature, Michael is one of the angels of God's presence. Rosenfeld, company spokesman. Because it is privately owned, the company does not disclose earnings, Rosenfeld said. But he added, "in recent years, we have always been profitable." The company has almost tripled its revenues in the last five years, growing from $123 million in fiscal 1989 to $335 million in 1994, Rosenfeld said. Much of the growth was achieved through acquisitions and mergers in recent years, he said. Montgomery Watson was formed in July 1992, when Pasadena-based James M. Montgomery Consulting Engineers Inc. merged with High Wycombe High Wycombe (wĭk`əm), city (1991 pop. 69,575), Buckinghamshire, S England. The city is well known for its furniture industry and also has paper mills, sawmills, and engineering works. , England-based environmental engineering firm Watson Hawksley. Then in October 1993, Montgomery Watson acquired a Cleveland, Ohio-based environmental engineering firm, Havens & Emerson. Lackman said the Warzyn acquisition brings Montgomery Watson several new Fortune 500 clients. "Some firms are doing it (acquisitions) because they have to get size and bulk to get the particularly large contracts coming from the (U.S.) Departments of Defense and Energy," said Debra Rubin, environmental editor of New York-based Engineering News Record, a trade magazine. Also, companies are trending towards building a presence throughout the U.S., Rubin said. By buying Warzyn, "it gives them more presence on this side of the Mississippi Mississippi, state, United States Mississippi (mĭs'əsĭp`ē), one of the Deep South states of the United States. It is bordered by Alabama (E), the Gulf of Mexico (S), Arkansas and Louisiana, with most of the border formed by ," she said. Montgomery Watson is also following another nationwide trend in the environmental clean-up industry to be a one-stop services firm, providing what is known as "cradle to grave" remediation, Rubin said. "When the (U.S. Environmental Protection Agency's) Superfund program Noun 1. Superfund program - the federal government's program to locate and investigate and clean up the worst uncontrolled and abandoned toxic waste sites nationwide; administered by the Environmental Protection Agency; "some have intimated that the Superfund's money began in 1980, everyone was studying and studying and studying the problems," Rubin said. "Now they are saying, 'Go in, we want it cleaned up. Move dirt.'" |
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