The Dublin-based group has bought German company Herhof for 20 million euros. Herhof builds, owns and operates MBT and in-vessel composting facilities throughout Europe.
Assets acquired include a design and manufacturing facility near Frankfurt in Germany, three MBT plants in Germany and Italy with a combined throughput of 300,000 tonnes of waste a year and two further plants currently under construction. MBT plants work by accepting unsorted household waste and separating recyclable materials from organic degradable material. Herhof's plants turn this organic material into a fuel product called Stabilat.
Contracts
In addition, there are five contracts secured for more MBT plants in Europe with construction about to begin. A spokesman for Treasury said: “The capital cost of these construction contracts is over 175 million euros and by mid-2005 these plants will have an annual throughput of over 1.2 million tonnes of municipal waste.” The new contracts, which are with local authorities, will last for around 20 years each.
Treasury previously worked with Herhof as sole licensee in the UK and Ireland. MBT has generated significant interest from local authorities and waste contractors as a result of landfill diversion and recycling targets set by the Landfill Directive.
Alternative
David Tyndall, chief operations officer of Treasury Holdings said: “This technology provides a real alternative to landfill and mass burn incineration of municipal waste. The Herhof MBT and composting technologies have a significant role to play in the development of sustainable waste management solution, providing a well proven method of meeting the European and UK targets and protecting the environment for future generations.”
Treasury has assets under management of 1.3 billion euros and claims to be one of Ireland's most successful property development companies.
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