Headwaters (NYSE: HW) is a diversified company providing products, technologies and services in two industries: construction materials, including coal combustion products, and alternative energy.
Headwaters currently operates in three industries: building products, coal combustion products (CCPs) and energy.
- In the building products segment, they design, manufacture, and sell architectural stone, resin-based exterior siding accessories (such as shutters, mounting blocks, and vents), concrete block and other building products. Revenues consist of product sales to wholesale and retail distributors, contractors and other users of building products.
- Headwaters operates in the management and marketing of CCPs, including fly ash used as a substitute for portland cement. Revenues in the CCP segment consist primarily of CCP product sales with a smaller amount of service revenue.
- In the energy segment, they are focused on reducing waste and increasing the value of energy-related feedstocks, primarily in the areas of low-value coal and oil. Revenues for the energy segment through December 31, 2007 consisted primarily of sales of chemical reagents and license fees related to their former Section 45K business. Beginning January 1, 2008, and for the foreseeable future, revenues for this segment consist primarily of coal sales.
Source: Headwaters, Inc. May 7th, 2009 10-Q