FCC completes £1.4bn acquisition of Waste Recycling Group

28 September 2006

The £1.4 billion acquisition of Waste Recycling Group has been completed by Spanish construction and utilities firm FCC, it was confirmed today.

The acquisition, originally announced in July (see letsrecycle.com story), includes all of WRG's waste disposal and municipal activities – but does not include landfill gas operations.

WRG faces an exciting future as part of our Spanish colleagues' ambitious plans to grow their involvement in the UK waste management sector.
- Jim Meredith, WRG FCC - Fomento de Construcciones y Contratas S.A. – is the parent company of the relatively small UK-based waste management firm Focsa UK.

The acquisition of WRG will see FCC becoming one of the largest waste management companies operating in this country. The newly-acquired company manages about 13 million tonnes of household, commercial and industrial waste each year.

Jim Meredith, chief executive of Waste Recycling Group, commented: "From today, WRG faces an exciting future as part of our Spanish colleagues' ambitious plans to grow their involvement in the UK waste management sector. We are looking forward to the opportunities that this development represents to WRG, our employees and our customers."

Infinis
WRG's previous owners, private equity group Terra Firma, are to re-name the side of the business it is keeping as Infinis Ltd.

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WRG
The company, mainly encompassing operations generating electricity from landfill gas, will remain in the ownership of Terra Firma, the company said. Former BBC director-general Lord Birt has agreed to step across from his chairmanship of WRG to take the chairman role at Infinis.

A statement from WRG said: "The WRG Board would like to express its appreciation for the valuable contribution that Lord Birt has made to the business since he joined the company in January."

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