Pennon Group PLC
18 October 2001
18 October 2001
PENNON GROUP EXPANDS
ITS WASTE DISPOSAL BUSINESS
Pennon Group Plc announced today the acquisition of two waste management
businesses by subsidiary Viridor Waste Limited for a total of £12.2 million.
The Suffolk Waste Disposal Company Limited, the recycling and disposal
company owned by Suffolk County Council, was acquired for £8.6 million and
will complement Viridor's existing disposal activities in East Anglia.
Suffolk Waste has consented landfill void of 4.0 million cubic metres which
brings Viridor's total consented landfill void to 73 million cubic metres.
In a separate transaction, Viridor Waste has acquired Lavelle and Sons
Limited, a Manchester based transfer station, recycling and collection company
for £3.6 million. Lavelle will complement Viridor's disposal activities in
the North West.
The consideration in both cases was paid in cash.
Both businesses will be integrated into Viridor Waste Limited and the
acquisitions are in line with Pennon's strategy of expansion within the waste
management area. Viridor Waste's turnover at 31st March 2001 was £106.1
Viridor's Chief Executive Colin Drummond said today, 'Viridor Waste is one of
the UK's leading waste management companies, focusing particularly on waste
treatment and disposal; these latest acquisitions enhance that position.'
- ENDS -
For further information please contact Colin Drummond, Chief Executive,
Viridor Limited on 01392 443011 or Hilary Weatherley, Corporate
Communications Manager on 01392 443035.