Wheelabrator Technologies, the refuse-to-energy company that is...

Wheelabrator Technologies, the refuse-to-energy company that is 80% owned by Henley Group of La Jolla, reported first-quarter net income of $9 million on revenue of $242 million, as compared to a profit of $6 million on revenue of $240 million over the same three months last year.

Based in Danvers, Mass., Wheelabrator announced recently that it plans to form an enterprise with Waste Management’s refuse-to-energy assets to form a company with $1 billion in assets and revenue. When combined, the new company will own or operate nine plants with a dozen more in various stages of development.