Veolia Environmental Services has signed an agreement to acquire the Bartin Recycling Group, a leading French company in the recovery and recycling of ferrous and non-ferrous metals. The acquisition is in line with Veolia Environmental Services' strategy of 'turning waste into a resource' and of continuing to develop its waste management business in the recycling segment.
The Bartin Recycling Group specializes in the collection and recycling of industrial waste, in particular ferrous and non-ferrous metals. It generated revenue of €249 million in 2006 and recycles 780,000 tonnes of metals per year.
Denis Gasquet, Chief Executive Officer of Veolia Environmental Services, commented 'This acquisition adds to and strengthens our capabilities and capacities in the recycling of metals at a time when these raw materials are of growing importance in tense international markets. It's an important step in the roll-out of our strategy, and will help us continue to support our public and private clients in managing their waste in a cost-effective and environmentally responsible manner.'
Jérôme Le Conte, General Manager France of Veolia Environmental Services, added 'Given the importance of materials recovery as 50% of the world's steel is now produced from scrap metal, the collection and recycling of metals is becoming a key element in the palette of waste management activities. This acquisition will create excellent synergies and raise the metal recycling capacity of Veolia Environmental Services in France from 250,000 metric tons per year to over 1 million metric tons per year.'