The Italian environmental group Iren Ambiente will take over two additional subsidiaries of the recycling and services company Derichebourg. The sales agreement was signed on Wednesday, reported Derichebourg, which expects the transaction to be finalised before the end of the year.
Derichebourg divests its subsidiaries San Germano and CMT. San Germano ist active in waste collection and urban cleaning in the regions Piemont, Lombardia and Sardinia, operating from about 20 sites. CMT collects and processes recovered paper and board as well as waste plastics in Piemont and Sardinia and has six sites, according to Derichebourg.
Derichebourg and Iren did not comment on the value of the transaction. Derichebourg put the two companies' contribution to consolidated turnover in the past financial year at €74m, which represents about 2.7 per cent of total turnover. San Germano and CMT have around 900 employees.
Derichebourg said the sale was part of the strategy to refocus on core activities. The group's aim is to reduce its presence in Italy and to ultimately only maintain its metals recycling operations there. At the end of 2016, Derichebourg had already sold its subsidiary Ricupero Ecologici Industriali Srl (REI), which owns a landfill in the Torino region, to Iren Ambiente.