13th Feb 2007 07:01
Pennon Group PLC13 February 2007 13 February 2007 PENNON GROUP FURTHER EXPANDS ITS WASTE MANAGEMENT BUSINESS/ VIRIDOR ACQUIRES BUSINESS IN KENT Pennon Group Plc announces that its subsidiary, Viridor Waste ManagementLimited, has acquired Skipaway Holdings Limited (the holding company for threetrading subsidiaries: Skipaway Limited, Allwaste Disposal Services Limited andWastenot Recycling Limited) from Messrs J R Butler, R D Merrick, M Butler and MA Orsbourn for £14.7m. The acquisition is in line with Pennon's stated strategyof expanding its waste management activities, particularly in the areas oflandfill, power generation and waste treatment. The acquired companies are headquartered in Rochester, Kent and comprise threetransfer stations with associated industrial and commercial waste collection andrecycling activities operating in the Medway towns and the Faversham and Ashfordareas. They handle approximately 240,000 tonnes of material per annum. Viridor has complementary disposal, collection and recycling assets in thecounty. The acquisition will be integrated into Viridor Waste's south easternregion and is expected to be earnings enhancing before amortisation ofintangibles in the first full year. Commenting on the acquisition, Colin Drummond, Chief Executive of Viridor Wastesaid, "Skipaway has had an excellent track record over the past two decades.This acquisition fits very well with Viridor Waste's strategy of expanding itswaste transfer and treatment businesses, particularly in regions such as theSouth East where there are synergies with existing assets." For further information please contact:Colin Drummond, Chief Executive, Viridor Waste, on 07831 145 157Jo Finely, Investor Relations Manager, Pennon Group, on 01392 4434401Sally Hogan, Finsbury, on 020 7251 3801 Notes to Editors: About Viridor Viridor Waste Management is a leading provider of essential waste and recyclingservices in the UK. It is owned by the Pennon Group, a major UK plc with assetsof over £2.3 billion. Viridor has core competencies in materials recycling, thegeneration of renewable power and waste disposal by landfill. It also operateswaste transfer stations, household waste recycling (civic amenity) sites,composting and mechanical/biological treatment plants and liquid waste treatmentfacilities in a number of regions of the UK. It has a waste collection fleet ofaround 470 vehicles, and a clinical waste incinerator. In total it operatesover 180 facilities across the UK, processing large volumes of municipal,commercial and industrial wastes. A Viridor/Grundon Waste Management joint venture is building a 400kt/37MW energyfrom waste facility at Colnbrook, west of London, which is due to open in thesecond half of 2008. The company has total consented landfill capacity of approximately 91m cubicmetres. This capacity is located particularly across the South, North West andEast of England, and the Central Belt of Scotland. Gas produced from landfill sites (landfill gas) is increasingly used to generateelectricity. It is a form of renewable energy and now represents around 30percent of the UK's total renewable energy generation. Viridor hasapproximately 70 MW of capacity of which 46 percent is eligible for RenewablesObligation Certificates (ROCs). Viridor was the first waste management company in the UK to adopt acomprehensive environmental management system (EMS) across its entire business,gaining accreditation to ISO 14001, the highest international standard, at allits major operational centres. The company is now progressing to the adoptionof an Integrated Management System accredited to ISO 9001 (Quality Management),ISO 14001 and OHSAS 18001 (Occupational Health and Safety) standards. Viridor has a detailed corporate and social responsibility policy and thecompany's performance is formally assessed in Pennon Group's annual report oncorporate responsibility for environmental and social issues. 13 February 2007 www.viridor-waste.co.uk www.pennon-group.co.uk End transmission This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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