Shanks Group is to rebrand as Renewi plc following completion of its merger with Dutch competitor Van Gansewinkel Groep B.V., the waste company has announced today (28 February).
The relaunch, which will be reflected on the London Stock Exchange tomorrow (1 March), will see the firm’s UK municipal waste division operate under the new title.
It follows confirmation earlier this month that Shanks has received all necessary approvals from competition authorities to proceed with the Van Gansewinkel merger.
Van Gansewinkel is considered the largest recycling business in the Benelux region, an area which consists of Belgium, the Netherlands and Luxembourg.
Shanks’ company’s board believes that the Combined Group can be expected to achieve pre-tax operating cost savings of €40 million in the third full year following completion of the merger (see letsrecycle.com story).
According to Shanks, the Renewi name reflects the ‘heritage’ of the two companies and their aim to develop ‘high-quality secondary raw materials’.
As part of the change, a new senior management team has also been put in place to help ensure integration of the two businesses.
Peter Dilnot, chief executive Renewi, said: “Renewi brings together Shanks and Van Gansewinkel to create a new, international waste-to-product leader. By giving new life to used materials, we will protect the world from contamination, preserve finite natural resources, and enable customers to meet their sustainability goals.
“With our deep international expertise we also provide them with an extensive product range, combined with local service and attention. The circular economy is something that we are passionate about and this is captured by Renewi’s fundamental vision to ’waste no more’.”
Renewi will operate across the five Shanks divisions: Netherlands Commercial; Belgium Commercial; Hazardous Waste; Monostreams, and; Municipal (UK and Canada).
Projects announced under the new Group include closed loop partnering with Phillips to produce a vaccum cleaner made from 30% recycled plastic and producing bricks from incinerator bottom ash.
The company will continue to operate its UK operations from Shanks’ headquarters in Milton Keynes.
An FAQ section on the new company website states: “Customers and suppliers will not see an immediate change in their day to day relationship with Renewi.
“However, as the company integrates and we optimise the benefits of our increased scale, there will be improvements and enhancements in a number of areas.”