Viridor expands its recycling capacity
27-MAR-2008
UK-based Viridor Waste Management Ltd. has acquired Shore Recycling Ltd, a leading UK waste electrical and electronic equipment (WEEE) recycling company for a cash consideration of £23 million (debt free). The acquisition is in line with Viridor's parent company Pennon Group plc's strategy of expanding its waste management activities.
Shore is headquartered in Perth, Scotland and has recycling facilities in Perth, Manchester and St Helen's along with an associated collection fleet. With the UK's recent implementation of the European Union's WEEE Directive, WEEE recycling is expected to offer significant opportunities for growth – particularly for volumes of material from local authority clients. The company handles a full range of WEEE and benefits from modern purpose built recycling equipment.
Commenting on the acquisition, Mike Hellings, Managing Director of Viridor said, 'The UK's waste strategies demand ever increasing levels of recycling, particularly now in the area of waste electrical and electronic equipment. Shore has an excellent track record in leading the way in this market in the North of the UK and is well placed to capitalise on this opportunity. Their innovative and professional approach fits very well with the Viridor culture and we look forward to welcoming and working with our new colleagues. This acquisition fits with Viridor's strategy of expanding its materials recycling capacity, particularly where there are synergies with existing assets.'
A day after making this announcement, Viridor also announced that CDs and DVDs can now be recycled in West Sussex, UK via the company's scheme at Household Waste Recycling Sites (HWRS). Viridor has signed an agreement with Polymer Recycling Ltd to treat and process CDs and DVDs collected from the HWRS network in West Sussex.
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