Money

Perth recycling business bought back



Perth-based Shore Recycling has bought the Waste Electrical Recycling business owned by Viridor for an undisclosed sum.

The deal for the WEEE business concluded late on Friday sees the business being acquired as a going concern with all personnel and assets transferring over with immediate effect.

Simon Howie’s Shore Recycling business is returning to the waste recycling sector, which it exited in 2008 with the sale of the business to Viridor for £23m.

Shore has taken over at the Perth plant with the 70 plus employees being TUPEd across to its business.

Shore chairman Simon Howie said: “We are delighted to return to the sector, and we very much look forward to working with customers past, present and future to drive the business forward. “There’s a strong team in the business, and we’re looking forward to getting started”

Viridor said in a statement: “Whilst Viridor recognises the recycling of electrical items is a vital part of waste management it has made the strategic decision to exit this activity.

We would like to thank all our customers and staff at the Perth facility for their support over the years.

“We know that this support will continue for Shore Recycling to drive the business forward. We wish everyone the best for the future”.

Viridor had previously closed Waste Electrical’s other plant at St Helens on Merseyside.

The company confirmed in June that the St Helens plant was to close with the work being transferred to the Perth plant.

READ  Shop owners have complained about huge numbers of ‘fake’ fivers, but the Bank of England insists they are real

Viridor’s exit from waste electrical recycling follows a strategy change after the group was acquired by global investment firm KKR from main market-listed Pennon in March in a £4.2bn deal.



READ SOURCE

Leave a Reply