Valpak restructure to be voted on in January

In August 2011, the senior management of the producer compliance and recycling company proposed to buy it out from its 4,141 members in a bid to give the company more flexibility (see letsrecycle.com story). This prompted a number of outside parties to express an interest in the business, which put the whole buy-out process on hold while these offers were considered (see letsrecycle.com story).

But now, this consideration process has been concluded and the company has said it will be announcing new proposals for the organisations restructure soon and has published a timetable.

In a statement, Valpak said: As was previously reported, a number of unsolicited expressions of interest have been received and therefore the existing process was suspended. This was to allow time to consider these other expressions of interest in the best interests of the membership.

Conclusions to this process have been reached and the court has approved the revised offer to be put to the membership in the New Year.

Members have now been told that they will receive full details of the enhanced offer on 5 January 2012 along with information on how to vote. Then, Valpak will hold a court meeting and general meeting at its offices in Stratford-upon-Avon on January 26 at which members will have a chance to vote. This meeting had originally been due to take place in August but was adjourned when the outside expressions of interest were received.

Details

As yet, no details are available of what the proposals are or who they involve, however it is thought likely that Valpaks senior management are involved.

Valpak has been operating since 1997 when the first piece of producer responsibility legislation, the Packaging Waste Regulations, was introduced in the UK. This legislation allows businesses to outsource legal compliance to a third party. Valpak was set up by founder members to provide this service and the business now has a 50% share of the packaging compliance market. The company has since expanded its service offerings to include compliance for producers under the Waste Electrical and Electronic Equipment (WEEE) Regulations and the Waste Batteries and Accumulators Regulations and operates more widely in the fields of sustainable development, recycling and waste management, carbon services and energy and data management.