2 February 2018 by Joshua Doherty

Business news round-up (02/02/18)

With news on: Cory completes Thames Ship acquisition; ERC rebrands to mark expansion; £500,000 fund to tackle food waste; and, AMCS acquires Brady Recycling Solutions.

Cory completes ship repair acquisition

Cory has acquired Kent-based shipping maintenance company Thames Ship Repair Service, bringing maintenance of its fleets, barges and tugs in-house.

Cory will be bringing maintenance of its fleets, barges and tugs in-house.

And, it will enable Cory to continue the provision of third party services which realised revenues of £1.2m in 2017.

The acquisition includes two slipways off the River Thames and will enable Cory to accommodate the expansion of its existing 55 vessel fleet in serving the planned Riverside Energy Park.

Julian Walker, chief operating officer of Cory Riverside Energy, said that despite the acquisition being a relatively modest one, it will help further strengthen the companies capabilities for transporting waste along the river Thames.

He said: “Our existing riverside infrastructure and 120-year operational experience on the Thames gives us a unique capability. Acquiring Thames Ship Repair Service will now provide us with the necessary support facilities to expand our own river based operations as well as service third parties’ vessels.”

ERC rebrands to mark expansion

A collection and recycling specialist for clothing and shoes will be renamed this month to mark its expansion.

The European Recycling Company (ERC) will become SOEX UK, taking the name of parent company SOEX, which specialises in collecting, sorting, recycling and repurposing clothes and footwear.

SOEX’s sorting processes are able to select to over 400 grades of material

Commenting on the rebrand, chief executive of SOEX UK Andy Haws said: “As SOEX UK we are planning to work even more closely with our international group colleagues, ensuring our local authority and retail partners seamlessly interface with its expertise and innovation in sustainable recycling.”

SOEX’s sorting processes are able to select to over 400 grades of material, optimising the market value of each recycled product. Clothes and shoes, which cannot be used as second hand wear are recycled into secondary raw materials, primarily in the automotive and building industries.

It also works with several local councils including Birmingham city council, Fareham borough council and Brighton and Hove city council.

Mr Haws added: “Our rebrand reflects the close relationship and international resources we enjoy through being part of the SOEX family and we’re looking forward to further expanding the services we provide for our clients.”

£500,000 fund to tackle food waste in England

Expressions of interest are are being invited for a £500,000 fund provided by Defra to support projects led by Not-for-Profit organisations to help increase redistribution of surplus food.

The environment minister explained more about the £500,000 food waste fund at a WRAP conference

Environment Minister Thérèse Coffey outlined the criteria of the Food Waste Reduction Fund earlier this week, stating at a WRAP conference that the fund is open to Not-For-Profit organisations who supply surplus food from food businesses – either directly to those in need, or to other organisations who do the same.

Director of WRAP, Peter Maddox, said: “This fund will make a huge difference to many organisations in England, and those who use their services. We’re particularly looking for new routes and fresh partnerships to get more surplus food to people in need.”

Funding will be provided for projects to help overcome barriers to increasing redistribution. Projects could cover areas such as training for the people involved in supplying and distributing surplus food, infrastructure such as packing and labelling facilities and communication and technology to facilitate logistics.

Grants are expected to range from between £20,000 and £75,000.

AMCS acquires Brady Recycling Solutions

AMCS has acquired Brady Recyling Solutions, extending its portfolio in commercial scrap metal recycling operations.

The acquisition comes on the back of four others in the past few years, including US-based PC Scale, GMT in Europe and WastEdge in Australia.

Brady Recycling has an international customer base of over 100 metal and other recycling companies in North America, Europe and Australasia.

CEO of MCS, Jimmy Martin, explained that the company is looking for a “seamless transition” for customers and staff, and highlights the progress the AMCS is making.

He said: “This acquisition further strengthens our position as the leading technology provider to the global recycling industry. It also underlines our continued commitment to providing practical and proven solutions that support the transformation of the industry to a circular economy.”


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