Pennon buys recycling firm for £1.7m

7th Jun 2011 11:52

Water and sewerage services group Pennon is expanding its waste management services through the acquisition of cardboard and plastics recycling firm Storm Recycling for £1.7m.The acquisition, made by Pennon's subsidiary Viridor Waste Management, "is in line with the Group's strategy of expanding its waste management activities, particularly in the recycling sector," the group said.Storm has a recycling depot in Cheshire where the majority of tonnage is derived from 3- to 5-year term contracts. It handles around 20,000 to 25,000 tonnes of cardboard and plastic per annum.Viridor's chief executive Colin Drummond said, "This acquisition has an excellent geographic and business fit with Viridor's existing operations in the North West of England and complements our existing recycling activities elsewhere in the UK." ---BC