30th Aug 2005 12:00
Augean Plc30 August 2005 30th August 2005 Augean plc ("Augean" or "the Company") Acquisition Augean, the UK's leading hazardous waste business is pleased to announce that ithas today acquired the entire issued share capital of Proactive Waste SolutionsLimited ("Proactive"), a leading hazardous waste treatment operator for a totalconsideration of £8 million payable in cash. This acquisition is highlycomplementary to Augean's hazardous waste landfill sites and is in line withAugean's stated buy and build strategy to supply customers with completehazardous waste solutions. The total consideration of £8million is payable on completion and will besatisfied from current facilities. Proactive, which is based in Cannock in the West Midlands is one of thecountry's leading hazardous waste treatment and pre-treatment facilities. Thelicensed site covers approximately 4,500 square metres. Proactive should benefit from the regulation changes which came into effect on16th July 2005. This increases the number of waste streams classified ashazardous and also brings in a requirement to treat waste prior to disposal at ahazardous landfill facility. In the year ahead, the site will be further developed, with a new plant beinginstalled to expand the throughput and range of wastes that can be treated. Thedevelopments are expected to cost approximately £1m. John Huntington, CEO of Augean plc said: "This earnings enhancing acquisition is an important step for the business. Weare now able to supply customers with full hazardous waste solutions. "Not only is the Proactive business profitable in its own right but there aresignificant opportunities for growth." - Ends - For further information, please contact: Jonathon Brill/Billy Clegg, Financial Dynamics - 020 7831 3113 Notes to Editors About Augean plc Augean plc listed on AIM on 10th September 2004, as an acquisition vehicledesigned to acquire businesses within the exciting and fast growing hazardouswaste market. In November 2004, the Company raised £100m in an institutionalplacing to fund the acquisition of Atlantic Waste Holdings based nearPeterborough, which Augean bought for £80,000,000 and Zero Waste, based nearMiddlesbrough, bought for £26,000,000. Both companies have been re-branded asAugean. Augean is now one of the UK's market leaders in hazardous waste. Augean is run by John Huntington, CEO, Gary Downey, FD and David Williams,non-executive Chairman. John Huntington and David Williams were previouslyinvolved with Waste Recycling Group plc. The hazardous waste market Since the implementation into UK law of the EU Landfill Directive on 16th July2004, what was 'special waste' has been re-classified as 'hazardous waste'.Approximately 5 million tonnes of hazardous waste are produced per annum in theUK. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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