Europe's leading waste container producer is to be sold to two French investors. Plastics processor Plastic Omnium announced today that it signed a put option for its subsidiary Plastic Omnium Environment BV with a consortium consisting of Latour Capital and the public investment bank Bpifrance. The company expects the transaction to be completed before the end of 2018. The sales price was not disclosed.
Plastic Omnium describes its environment division as "standalone, profitable and cash-generating". It comprises the production of bins and collection containers for waste, related services such as cleaning and maintenance, and software and hardware for identification, weighing and data management. The business has 1,800 employees in twelve countries, operates six production sites in France, Germany and Spain and generates annual sales of more than €330m. Plastic Omnium had announced its intention to sell the operations in September 2017 in order to focus exclusively on its automotive activities.