High Oil Prices Spur Recycling Profits

Article Excerpt

MAPLE LEAF FOODS INC. $15 (Toronto symbol MFI; SI Rating: Average) has opened Canada’s first commercial biodiesel plant near Montreal. This facility converts animal fats and recycled cooking oils into a fuel that can power current diesel engines. Right now, the main customers for this product are mass transit systems and cruise ship lines. But the market for biodiesel is expanding, since it’s less toxic and easier to handle than regular diesel fuel. It also emits fewer harmful emissions. Maple Leaf’s stock has stayed in a narrow range in the past few months, as lower prices for some meat products have hurt its revenue growth. Fears of stronger competition from rival hog processing firms have also put pressure on the stock. But Maple Leaf’s acquisition of Schneider Corp. in 2004 should help it hang on to its leading market share. Maple Leaf Foods is a buy. buy…

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