Hyde Marine, a wholly owned subsidiary of Calgon Carbon Corporation (CCC - Analyst Report) was awarded three contracts to supply a total of 13 Hyde GUARDIAN Ballast Water Treatment (BWT) Systems for use on various vessels.
Hyde GUARDIAN BWT filters and disinfects the ships ballast water to prevent the spread of invasive species from port to port through chemical free process.
Hyde Marine would supply 8 multi-purpose vessels to the Zhejiang Ouhua Ship building Co. Ltd., for the China Navigation Co. Ltd., and has a treatment capacity of 500 m3/hr, which will begin installation in April 2012.
A few days back, Calgon Carbonalso received $1.35 million from the Ohio Third Frontier for the development and commercialization of advanced activated carbons for energy storage. As per the program, Calgon Carbon will focus on developing and manufacturing the first domestic source of activated carbon specifically designed for the ultracapacitor energy storage industry.
Last month, Calgon Carbon reported a profit of 15 cents per share in the first quarter of 2011 compared with 17 cents in the year-ago quarter. Sales in the quarter increased 20.8% to $124.4 million.
The company expects the margins of Calgon Carbon to continue improving throughout 2011. In 2011, in order to meet customer demand, the company expects to supplement activated carbon that it produces with lower-margin outsourced products.
Calgon will continue to progress by implementing its pricing and reactivation strategies, which will in turn, is anticipated to improve its Carbon and Service business.
Calgon competes with MeadWestvaco Corporation and ITT Water & Wastewater Herford GmbH.
We currently maintain a Zacks #3 Rank (short-term Hold recommendation) on Calgon and a long-term Neutral recommendation.