Veolia (Paris; www.veolia.com) announced the signing of an asset divestment contract under which 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 per year (m.t./yr) of metal.
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.”