SITA acquires NSW govt waste firm
SITA Environmental Solutions, a joint venture between France-based Suez Environnement and Singapore's Sembcorp Industries, has acquired the NSW government's waste services firm, WSN Environmental Solutions for $235 million.
The acquisition includes three engineered landfills in Belrose, two advanced resource recovery ventures and eight transfer stations and three material recovery facilities.
SITA managing director Eric Gernath said the management of reusable resources and waste was a necessary civil service.
"This acquisition is not simply complementary to our business, it is our business.
"The WSN assets are well positioned to realise excellent synergies with SITA's current operations."
General Manager, Marketing & Strategy, Simon Gardner Lee said, "The acquisition of WSN complements SITA's strategic growth platform in both the municipal and C&I sectors.
"SITA continues to expand and WSN's asset base is strategically compatible with our existing business activities."
NSW Treasurer, Mr Eric Roozendaal commented, "SITA Environmental Solutions is a significant trade player with a proven track record in the waste sector and has been at the forefront of waste recycling and recovery in both Australia and internationally."
The transaction is expected to close over the first quarter of 2011.