Company History

We are leaders in rediscovering resources. Over the past 20 years, the nature of our business has evolved and definitions of what is considered "waste" have been transformed. We have added clean technology processes to recover products and to recycle resources from industrial residues. The path to our leadership position began in 1993.

Today, the company has a staff of 2,000 and a network of 85 facilities across Canada. We recover approximately $400 million worth of reuseable products that would otherwise go to disposal.


  • Current management team joins the company
  • They begin to build the company by establishing oilfield and industrial environmental services in Western Canada
  • Six facilities in Alberta
  • Just over $1 million in cash flow
  • Operations primarily focused on treatment and terminaling of crude oil and in water disposal
  • Only about $1 million in revenue associated with waste management services

1993 – 2002

  • Revenue grows from $8 million to $112 million
  • Cash flow improves from $1.5 million to $32 million
  • Market capitalization increases 15 times to $175 million
  • Acquired and constructed facilities
  • Commercialized new processes to recover saleable products from oilfield and industrial wastes
  • By 2002, 500 people in 34 facilities

“We saw an excellent opportunity to grow environmental waste management services, and we developed a comprehensive plan to grow that part of Newalta. Over the next decade, we acquired complementary businesses, added services, constructed facilities in new geographic markets and commercialized improved technologies.”

— Al Cadotte, President & CEO, Newalta

2003 – 2005

  • Newalta Corporation converts to an income trust in early 2003
  • Dynamic growth continues, through investments in growth projects and acquisitions that total $152 million
  • Revenue grows from $112 million to $248 million
  • Cash flow increases from $32 million to $75 million
  • Market capitalization increases five times to $840 million
  • Year-end 2005, Newalta has 47 facilities and almost 1,000 people; return on capital is 25 percent and return on equity is 21 percent


  • Newalta completed seven acquisitions for a combined purchase price of approximately $200 million
  • Acquisitions included PSC Industrial Services Canada Inc. which established a strong company presence in Ontario. Acquired facilities included two industrial solid waste pre-treatment facilities; an industrial waste landfill; a network of five service centres in southwest Ontario; a fleet of 80 vehicles and over 300 people
  • Acquisitions in Quebec and Atlantic Canada added 314 people and 16 facilities
  • Operations were reconfigured into Western and Eastern divisions to improve customer access, enhance productivity and standardize processes
  • At year-end, Newalta had over 1,700 employees and more than 70 facilities


  • Newalta completed seven acquisitions, primarily in Eastern Canada, for a total of approximately $97 million
  • The largest of these transactions was the acquisition of Canada's largest lead-acid battery recycling operation in November 2007. The $58.8 million purchase of Nova Pb in Montreal added 115 people and further strengthened our operations by diversifying our cash flow and expanding our service offering
  • In just two years, we successfully established a strong Eastern Canadian market presence with 30 facilities, approximately 800 people and an approximate 20 percent market share.


  • Newalta Income Fund converted to a corporation in late 2008
  • Revenue and EBITDA increased 19 percent and 31 percent as compared to 2007, to $597 million and $126 million respectively. Improved performance was a result of solid returns from investments made in 2007 to expand services and improve profitability, as well as strong commodity prices
  • As a result of the successful expansion of our Eastern Canadian operations, this business contributed 40 percent of Newalta's total revenue in 2008
  • At year-end 2008, Newalta had over 80 facilities across Canada and 2,000 people


  • We emerged from 2009 as a financially and operationally stronger company
  • Adjusted EBITDA improved from $30 million in the first half to $52 million in the second half, as commodity prices strengthened, our markets recovered and cost reductions were realized
  • The second kiln was commissioned at Ville Ste-Catherine, expanding capacity to 80,000 metric tonnes
  • SG&A expense before non-cash stock-based compensation was down 13% compared to 2008


  • We added new customers, expanded services to existing customers and continued to improve productivity and profitability
  • Revenue increased $93 million, or 19 percent, and Adjusted EBITDA climbed $37 million, or 45 percent, from 2009
  • Our strong performance supported a 30 percent dividend increase and $76 million in capital investments
  • We responded to recovering markets, driving improved return on capital of 13 percent from 9 percent in 2009
  • Newalta delivered a 50 percent return to investors in 2010, bringing total returns to 100 percent over the past two years


  • We extended our track record of double digit growth with solid gains in revenue, profitability and capital returns
  • Revenue increased $106 million or 19%, Adjusted EBITDA increased $28 million or 23% and Return on capital improved to 15%
  • We continued to diversify and expand services throughout the business
  • We added four new Onsite contracts and strengthened our U.S. business platform
  • We identified several new processes to be piloted
  • We strengthened the balance sheet with refinancing long term debt
  • Our strong performance supported a $87 million growth capital investment and a 23% dividend increase