French plastics manufacturer, Plastic Omnium – known in the UK waste sector as a major supplier of wheeled bins and waste containers – has outlined plans for the sale of its environmental division.
Plastic Omnium is known in the UK as a supplier of wheeled bins and waste containers
The company signed a put option with a consortium made up of corporate investor, Latour Capital, and French investment bank, BpiFrance, for the sale of the subsidiary last week. The process is expected to be completed by the end of 2018.
The environmental business – which is Plastic Omnium’s founding business – has six plants in France, Germany and Spain; an E&D centre and customer service centre; serving 8,000 customers. The business generates an annual revenue exceeding €330 million.
Its products and services include wheeled bins for household waste, collection banks, composters, underground and semi-underground containers, maintenance, washing, surveys and implementation, data management, incentive-based invoicing systems (see letsrecycle.com story).
The business employs 1,800 people operating across 12 countries.
Following the announcement, the company plans to focus on its automotive sector.
In a statement, the company said: “Plastic Omnium is committed to choose a buyer who understands the businesses of its Environment activity, who has developed an ambitious industrial project both for France and internationally and who is in line with its culture of excellence.”
The decision will be subject to approval from the relevant competition authorities, the company said.
Following the announcement, the company plans to focus on its automotive sector.
In a statement, the company said: “Plastic Omnium is committed to choose a buyer who understands the businesses of its Environment activity, who has developed an ambitious industrial project both for France and internationally and who is in line with its culture of excellence.”
The decision will be subject to approval from the relevant competition authorities, the company said.
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Source: letsrecycle.com Plastic
