Join our daily newsletter At The Bell to receive exclusive market insights
- Cleanaway Waste Management (CWY) has had operations disrupted for its Health Services arm of business after a fire caused significant damage to equipment
- None of the company’s staff were injured, with everyone safely evacuated before emergency services arrived at the scene
- Cleanaway is now searching for alternative ways to treat and dispose of medical waste, which would have been processed at the site
- The company said it anticipates to see a reduction in EBITDA for the Health Services unit of between $2 and $3 million a month as a result of this event
- Shares drop 1.56 per cent to close at $2.85
Cleanaway Waste Management (CWY) has had operations disrupted for its Health Services arm of business after a fire caused significant damage to equipment.
The fire occurred at its medical waste processing facility in Dandenong, Victoria yesterday afternoon.
None of the company’s staff were injured, with everyone safely evacuated before emergency services arrived at the scene.
Cleanaway is now searching for alternative ways to treat and dispose of medical waste, which would have been processed at the site.
This includes seeking temporary licences to process the waste at other Cleanaway sites and with third parties. Its goal is to minimise disruption to its affected customers as much as possible.
The company said it anticipates to see a reduction in EBITDA for the Health Services unit of between $2 and $3 million a month as a result of this event.
However, it is still unclear what the final financial impact will be or how long operations will be disrupted.
Shares dropped 1.56 per cent today to close at $2.85.
