29th Mar 2018 09:52
The waste-to-product company said the sale, completed on Wednesday, reflects its decision to exit the loss-making facility in line with its strategy to actively manage its Municipal portfolio to improve margins and returns.
Renewi said this exit has been achieved quicker than expected. All employees based at Westcott Park will transfer over to Olleco.
"The sale of our Westcott Park facility is completely in line with our strategy to actively manage our Municipal portfolio. We are taking decisive action to improve the performance of the Division and this demonstrates we are delivering against that recovery plan," said James Priestley, managing director of Renewi's Municipal Division.
"The facility and the team based there will now be part of an operation exclusively focused on the food waste market which will be beneficial for customers and suppliers as well as the people based at the facility. We will now work with Olleco to ensure a seamless transition," Priestley added.
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