BluMetric Environmental has won a $1.4-million contract to clean up contaminated industrial land in Montreal.
The Ottawa-based cleantech firm, which specializes in water and wastewater treatment technology, will be overseeing the removal of contaminated soils, concrete and water at a site in Montreal’s east end on behalf of chemical company Linde Canada. The work is expected to be completed by the end of September.
In a statement this week, BluMetric CEO Scott MacFabe said the contract resulted from the firm’s recent “strategic decision” to diversify and grow its mining and industrial business by hiring new senior staff members in “key geographies” such as Quebec.
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“We view Quebec as a very attractive market and look to continue to grow our business deeper in that province,” MacFabe added.
BluMetric posted revenue of $8.2 million in its second quarter ending March 30, down from $9.1 million a year earlier. The company said the decline was due mainly to a drop in “non-recurring, high-margin COVID-related projects” that boosted the company’s balance sheet in the second quarter of 2021.
MacFabe said when the second-quarter results were announced in late May that activity in BluMetric’s sales pipeline was picking up, adding the firm expected to land new deals in the coming quarters.
BluMetric recorded net earnings of $264,000 in the second quarter, compared with a profit of $1.1 million the previous year. The company is expected to announce its third-quarter financial results in the next few weeks.
