Covanta

Early history

In 1939, Ogden Corporation was founded as a successor to Utilities Power and Light, a Chicago-based utilities holding company that had been under a court-ordered trusteeship since 1937. Its subsidiaries included the Laclede Gas Company, Interstate Power Company, Missouri Natural Gas Company, Missouri Electric Power Company, Central State Utilities Corporation, and Central States Power and Light Corporation. The Atlas Corporation controlled the Ogden Corporation from its founding until it was sold to the Allen family in 1951. Benjamin G. Brewster, general auditor for the Atlas Corporation, served as Ogden's first president. He was succeeded by Maurice L. Sindeband.

As part of the reorganization of the Utilities Power and Light, Ogden was obligated to divest its utility interests so that it would comply with the Public Utility Holding Company Act of 1935. By 1948, Ogden's only remaining utility holding was the Interstate Power Company.

Beginnings in energy-from-waste

Ogden entered the energy-from-waste business in 1983, when it acquired intellectual property rights to the Martin GmbH incinerator technology commonly used in Europe, and a method of hazardous waste disposal. The company formed Ogden Martin Systems as a subsidiary for its energy-from-waste business. By 1986, Ogden had five energy-from-waste plants under construction and agreements in place to build four more. In 1993, Ogden subsidiary Ogden Projects, Inc. acquired ABB’s energy-from-waste business. This increased Ogden's energy-from-waste business from 21 plants with a capacity of 20,675 tons-per-day to 24 plants with a capacity of 28,135 tons-per-day.

Manufacturing

In 1953, Ogden entered the manufacturing field when it acquired W. A. Case & Son Manufacturing Company, a manufacturer and distributor of plumbing and heating supplies, from Allen & Company. That same year the company purchased Teleregister from Western Union. In 1955, Ogden purchased Commercial Filters Corporation, an electronics and plumbing firm, and Luria Brothers & Co., an iron and steel scrap business. In 1957 the company purchased the Eimco Corporation and the American Foundry & Machine Company of Salt Lake City. Eimco manufactured filtration equipment and American Foundry & Machine made iron and steel castings. In 1959, Ogden acquired Avondale Marine Ways Inc., a New Orleans shipbuilding company.

In 1962, former Luria Brothers president Ralph E. Ablon became president and chairman of Ogden.

Shift from manufacturing to services

In the 1980s, Ogden shifted from primarily a manufacturing business to a services company. Its first investment in the services industry was the $118 million acquisition of Allied Maintenance Corporation in 1982. Ogden undertook 19 acquisitions and mergers between 1983 and 1991. In 1986 Suffolk Downs was sold to Buddy LeRoux. By 1987, substantially all of Ogden's revenues were from services it didn't previously provide, like warehousing, running concession stands at stadiums, and janitorial services. In 1990, Ralph E. Ablon was succeeded as president and CEO by his son Richard. In 1991, it acquired a professional services company called ERC Environmental and Energy Services for $80 million.

Operations

Reworld develops and operates facilities that burn trash to produce electricity, recover metals from the waste stream for recycling, and provide other industrial waste management services. As of 2013, about 60% of the revenue of Reworld came from selling trash disposal services and 25% from selling electricity produced by burning trash. The remainder of its revenue was from metal recycling, construction, and other services.