Veolia Environnement to acquire Cleanaway
UK
Veolia Environnement announced the purchase of
Cleanaway Holdings Limited (Cleanaway UK) from Brambles Industries
Limited and Brambles Industries plc for £595 million ($1,100
million US).
Cleanaway UK is a major operator in England and
Wales in municipal and industrial waste collection and integrated
waste management services, supported by a nationwide network of
service centers and four landfill sites. It operates a high-temperature
hazardous waste incinerator and two materials recycling facilities
at Greenwich and Rainham. Cleanaway UK employs more than 7,500 people.
The acquisition will develop Veolia Environmental
Services’ municipal business with the addition of new services
and contracts, double the size of its commercial dry waste business
with enhanced geographic coverage and route density and complement
its current portfolio of recycling, treatment and disposal facilities.
The new Veolia Environmental Services entity in
the UK will employ more than 13,000 employees and is expected to
post strong organic revenue growth in the short and medium term.
It expects significant cost synergies arising from procurement savings,
route optimization, depots rationalization and central costs savings.
The transaction is subject to merger approval
by the EU competition authorities.
Veolia Environnement now operates most of its
businesses under a single name. Onyx has become Veolia Environmental
Services. |
