Shanks acquires Hazardous Waste Treatment Facility
Press Release
5 February 2015
Shanks acquires Hazardous Waste Treatment Facility in the Netherlands
International waste-to-product business, Shanks Group plc (LSE:SKS) today announces that it has signed a binding agreement to acquire a hazardous waste treatment facility in the Netherlands.
Situated in Farmsum, in the northern Dutch province of Groningen, the site has been purchased from AB Civiel Beheer BV for €3.75m. The site, a former production facility of Rohm and Haas, comprises six hectares of land and high quality operational assets, including water and waste storage tanks, a production hall and distillation tower. It also has laboratories, offices, warehousing and railway access with indoor loading for trucks and trains as well as a further three undeveloped hectares of land. There are permits for a wide range of activities.
The site is close to Shanks' Reym North East regional headquarters at Veendam and its satellite locations that serve the onshore industrial cleaning market. The acquisition will bring immediate cost synergies with Shanks' nearby operations.
Over the short term, further benefits are expected to be delivered as the new site will offer additional treatment capacity for materials extracted during the industrial cleaning process. Over the longer term, further investment could develop the site to be able to offer additional treatment capabilities to support the activities currently undertaken at ATM, the division's main treatment facility in Moerdijk. This acquisition therefore mirrors the strategy for the new Shanks Total Care facility under construction at Theemsweg, Rotterdam, and will also be branded as a Shanks Total Care facility. Shanks Total Care is a service providing a complete range of cleaning, transport and waste management expertise through a single contact.
Jonny Kappen, Managing Director of Shanks' Hazardous Waste Division, said:
"Shanks Hazardous Waste already benefits from a strong market position in the north of the Netherlands through our successful Reym industrial cleaning business. The acquisition of this new facility in Farmsum will increase volumes, leverage our infrastructure and expand our market offering. It is in line with our strategy to invest in additional treatment capacity in markets where we have a sustainable competitive advantage and can deliver attractive returns. We are excited by the future growth opportunities this acquisition creates and we are pleased to be able to continue building on our position at the forefront of the hazardous waste industry."
For further information:
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Brunswick Group |
+44 207 404 5959 |
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Michael Fuchs |
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Matthew Dowe
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Notes to editors
Shanks Group is a leading international waste to product business.
The Group uses a range of cost-effective sustainable technologies to make valuable products from what is thrown away. We produce green energy, recovered fuel, recycled commodities and organic fertiliser.
Shanks meets the growing need from public and private sectors to manage waste sustainably without damaging the environment. Our solutions reduce greenhouse gas emissions, recycle natural resources and limit fossil fuel dependency.
Shanks operates in four divisions that reflect our markets: Solid, Hazardous, Organics and UK Municipal. It has operations in the Netherlands, Belgium, UK and Canada and employs around 3,600 people.
For more information, visit: www.shanksplc.com
This information is provided by RNS
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