The acquisition of Pearsons, which operates materials reclamation and associated facilities at Thetford in Norfolk, is in line with Viridor’s strategy of expanding its waste management activities, particularly in the recycling sector.
Pearsons handles around 50,000 tonnes of waste per annum and it has recently upgraded its facilities to a combined licensed capacity of 139,000 tonnes, thereby providing opportunity for Viridor to incur cost saving and volume increase before amortisation of intangibles in first full year.
Viridor CEO, Colin Drummond said that the UK’s waste strategy demands ever increasing levels of recycling and Pennon continues to expand its waste management activities, particularly in the recycling sector, which accounted for 16% of Viridor’s profits in 2009/10.
“This acquisition has an excellent geographic and business fit with Viridor’s existing operations in the East of England (including the ‘Reconomy’ business acquired in June 2010),” Drummond said.
