PALM BEACH, Fla., Oct. 22, 2020 /PRNewswire/ -- The demand for water and wastewater treatment equipment is growing significantly, over the years. Various industries such as food & beverages, chemicals, pharmaceuticals, pulp & paper, power, metal & mining, semiconductors, textiles, and oil & gas, call for the usage of clean water and therefore drive the growth of the market during the forecast period. The other factors contributing growth in the market are stringent government emission regulations and increasing urbanization. The global water and wastewater treatment equipment market is expected to experience opportunities during the forecast period, owing to factors such as increasing scope for operations & maintenance, and growth in emerging economies. The growing population, technological developments, rapid urbanization, and growth in infrastructure have augmented the growth of these equipment in the emerging markets. A report from Meticulous Research projected that The Water and Wastewater Treatment Market is expected to reach a value of $242.6 billion by 2027, at a CAGR of 6.7% during the forecast period 2020-2027. Active companies in the markets this week include: Evoqua Water Technologies (NYSE: AQUA), LifeQuest World Corp. (OTCPK: LQWC), Xylem Inc. (NYSE: XYL), American Water (NYSE: AWK), GFL Environmental Inc. (NYSE: GFL) (TSX: GFL).
The research report said that: "The COVID-19 pandemic has adversely hit many economies around the globe. It has affected more than 100 countries infecting more than 33,178,019 people and killing 998,784 as of 28th September 2020 (Source: European Centre for Disease Prevention and Control). To control the spread of this disease and avoid the related consequences, governments across the globe have announced partial or complete lockdowns, majorly impacting many manufacturing and service industries, including water and wastewater treatment. The outbreak of COVID-19 is projected to slow down investments in the water sector worldwide. It has also increased the importance of operational reliability due to the cost of disruption. Many large users of water have downscaled or reduced activities resulting in declining industrial demand. The decline in demand from large industrial and commercial users due to lockdowns and travel restrictions is expected to reduce revenues to water utilities significantly. A survey by the Global Water Leaders Group estimates that the industrial demand for water will fall by an average of 27 % due to COVID-19. Deeper revenue losses are projected across the whole water supply chain, including operators, technology companies, contractors, chemical suppliers, and consultants."
LifeQuest World Corp. (OTCPK: LQWC) BREAKING NEWS: Lifequest's Bangladesh Joint Venture, Biopipe Innovation, Announces Receipt of Orders for 18m3/day and 100m3/day Zero Sludge Biopipe Sewage Treatment Plants - LifeQuest World Corp. https://www.otcmarkets.com/stock/LQWC/overview subsidiary Biopipe Global Corp., which developed the world's only highly scalable onsite sludge, odor and chemical free sewage wastewater treatment technology, is pleased to announce the receipt of an order for a 18m3/day sewage treatment plant ("STP) from a prominent housing complex and an order for a 100m3/day STP for the headquarters of the Directorate General of National Security Intelligence, Bangladesh.
Ekram Zaman, Executive Director of Biopipe Innovation, said, "We are delighted to get these two orders following an extended period of shutdown and disruptions due to Covid-19. Bangladesh has proven to be economically resilient and capital spending on infrastructure remains robust but delayed by about six months. However, the sewage wastewater problem remains acute in Bangladesh.. We continue to win prestigious government projects and are closing in on several more. In Bangladesh, we believe Biopipe is known as the gold standard of solutions for biological sewage wastewater treatment. Biopipe Innovation has several plants in Bangladesh now that are performing as expected and we are preparing to install two more plants in the next few weeks."
Max Khan, President & CEO of Lifequest, said, "We had a great start to 2020 with close to $7 million of expected sales in the pipeline and approximately $1 million in orders, which were shelved due to Covid-19. Most of our orders were from the hospitality sector, which remains a very challenging sector. However, based on our recent proposal activity, we are beginning to see green shoots of recovery in our business. During the nearly five months of disruption, we continued investing in engineering, sales and marketing and we are now expecting a fairly robust fourth quarter. With the first installation in South Africa nearly complete and systems on the way soon to Ethiopia and the Philippines, we expect these three countries to start delivering meaningful sales." Read more news for LifeQuest World at: https://www.lifequestcorp.com/news-media
Other recent developments in the markets include:
GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) recently announced that it has declared a cash dividend of US$0.01 for each outstanding subordinate voting share and multiple voting share of the Company for the third quarter of 2020. The cash dividend will be paid on October 30, 2020 to shareholders of record at the close of business on October 19, 2020. The Company has designated this dividend as an eligible dividend within the meaning of the Income Tax Act (Canada).
GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of non-hazardous solid waste management, infrastructure & soil remediation and liquid waste management services through its platform of facilities throughout Canada and in 27 states in the United States. Across its organization, GFL has a workforce of more than 13,000 employees and provides its broad range of environmental services to more than 135,000 commercial and industrial customers and its solid waste collection services to more than 4 million households.
Xylem Inc. (NYSE: XYL), a leading global water technology company, recently announced The Board of Directors of Xylem Inc has declared a fourth quarter dividend of $0.26 per share payable on December 3, 2020 to shareholders of record as of November 5, 2020. Xylem is a leading global water technology company committed to developing innovative solutions to the world's water challenges.
Xylem (XYL) is a leading global water technology company committed to solving critical water and infrastructure challenges with technological innovation. Our more than 16,000 diverse employees delivered revenue of $5.25 billion in 2019. We are creating a more sustainable world by enabling our customers to optimize water and resource management, and helping communities in more than 150 countries become water-secure.
Evoqua Water Technologies (NYSE: AQUA), an industry leader in mission critical water treatment solutions, recently announced it has acquired privately held Aquapure Technologies of Cincinnati, a Hamilton, Ohio based water service and equipment company. This acquisition will further strengthen Evoqua's service capabilities in Cincinnati, Ohio and the surrounding region. Terms of the deal were not disclosed.
Aquapure Technologies serves the commercial and light industrial markets from its Hamilton-based branch. It provides its customers with a variety of water treatment products and services, including deionization, reverse osmosis, softeners and filtration systems.
"We are delighted to welcome Aquapure to the Evoqua family," said Evoqua Chief Executive Officer Ron Keating. "For over 30 years, Aquapure Technologies has been very successful by delivering excellent customer service and building a reputation as a trusted partner."
Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), recently announced that it has acquired the wastewater assets of the Borough of Kane Authority in McKean County for approximately $17.5 million. The Authority's wastewater system serves nearly 2,100 customers in Kane Borough and Wetmore Township. "We are very pleased to close another significant acquisition that further expands our wastewater footprint in an area where we've been providing drinking water for more than 100 years," said Pennsylvania American Water President Mike Doran. "The purchase provides a long-term wastewater solution to the community and a way to better address the financial burdens associated with increasing environmental requirements."
The sale of the wastewater system is expected to allow the borough to eliminate its existing wastewater debt, fully fund borough pension plans, and invest in capital projects. Effective today, all four of Kane's employees, represented by AFSCME District Council 85, Local 3603, are now employees of Pennsylvania American Water.
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