Airport targets hot profits

By Phil Boeyen, ShareChat Business News Editor

Tuesday 26th June 2001

Auckland Airport (NZSE: AIA) is going into the waste incineration business.

The company has announced a joint venture with a French company to operate and further develop the existing quarantine incinerator business based at the airport, trading under the name Waste Resources.

The incinerator is currently used to meet biosecurity obligations but AIA says there is business potential in the operation.

It says its partner in the new venture, listed French company Tredi Environment, is a specialist in resource recovery and industrial waste treatment with a particular focus on special and hazardous waste.

"Tredi has owned and operated numerous industrial waste treatment facilities for more than 20 years, including in Europe, Latin America, Taiwan and Canada," says the airport company.

"In New Zealand, Tredi's business has to-date concentrated on the removal, transportation and treatment of chemical wastes."

Medical and quarantine waste are two sectors being targeted for growing the incineration business.

Auckland Airport already rakes in considerable cash from outside its core business of take-off and landing fees. Retail revenue at the airport is a huge earner for the company and its property development business is also growing.

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