PARIS--(BUSINESS WIRE)--Regulatory News:
By signing an asset divestment contract on July 20, 2016, Derichebourg will acquire the Veolia subsidiary Bartin Recycling. Derichebourg will fund this acquisition out of existing credit lines.
The operation will be completed after obtaining approval from the French competition authorities.
Bartin Recycling, a Veolia subsidiary specializing in collecting and recycling ferrous and non-ferrous metals, operates around 20 sites in France where it recovers scrap metal, new production waste, demolition material, etc., from recovery or dismantling onsite through to its sale to industry as a secondary raw material. A major stakeholder in industrial recycling in France, the company recovers and recycles up to 450,000 metric tons of metal a year.
Veolia’s end-of-life material dismantling and deconstruction business (aircraft, ships, rail rolling stock and industrial facilities) is not concerned by this divestment.
Abderaman El Aoufir, Deputy Chief Executive Officer of the Derichebourg group said: “This acquisition is part of a long-term industrial strategy. It will enable the Derichebourg group to expand its regional coverage in France and ensure supply to its recycling units with volume from these recently acquired sites. The transaction completed with Veolia allows for the integration of external skills that will enhance our industrial and commercial processes.”
Pascal Tissot, President of Bartin Recycling, stated: “I am delighted to have been able to finalize Bartin Recycling’s acquisition by a major metals recycling business like Derichebourg. It brings the assurance of a solid industrial project and real growth prospects for its subsidiary, and the protection of jobs that Veolia was keen to ensure for its 300 employees.”
Veolia group is the global leader in optimized resource management. With over 174 000 employees worldwide, the Group designs and provides water, waste and energy management solutions that contribute to the sustainable development of communities and industries. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and to replenish them.
In 2015, the Veolia group supplied 100 million people with drinking water and 63 million people with wastewater service, produced 63 million megawatt hours of energy and converted 42.9 million metric tons of waste into new materials and energy. Veolia Environnement (Paris:VIE) recorded consolidated revenue of €25 billion in 2015. www.veolia.com
The Derichebourg group is a major international company operating in industrial and municipal services. It provides a comprehensive and integrated range of services in two complementary areas of business: environmental services (recycling, recovery, collection of household waste, urban cleaning, waste drop-off center management, etc.) and services to industry (cleaning, energy, temporary employment, aerospace, services in sensitive environments, etc.). The Group is now active in 14 countries on three continents, and has 33,000 employees worldwide. In 2015, the Derichebourg group reported revenue of €2.4 billion. www.derichebourg.com – ISIN code: FR 0000053381 – DBG