Cleanaway, which acquired Serviceteam in January this year, is currently jointly owned by GKN and Brambles through Cleanaway Europe. There had been some speculation over the past year that the Cleanaway business could even have been sold by the two companies. Now, industry observers now say that the business could have a greater part to play within the recycling and waste management sector under any future GKN/Brambles company, especially as GKN's traditional engineering activities have come under pressure.
Both Brambles and GKN
continue to emphasise that the merger is not a done deal and no deadline has been set. However, over the Easter weekend the company said the merger talks had moved forward. A formal statement issued recently cautioned: “The discussions are at a relatively early stage and legal, structural, financial, governance and regulatory issues in Australia and the UK will need to be resolved before any agreement can be concluded. There is no certainty that a proposal will be finalised or that agreement will be reached.”
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