14-05-07
Bord na Móna today completed the acquisition of Waste Management Company Advanced Environmental Solutions (Ireland) Ltd (AES) having obtained remaining Regulatory consents. The consideration for 100% of the share capital of the Company was €61M.AES is one of Ireland’s largest Waste Management businesses, serving over 6,000 commercial customers and some 55,000 households through a network of Waste Transfer Centres and Recycling facilities. The business provides an integrated waste management offer encompassing consultation, collection, recovery and disposal with a strong emphasis on recycling.
This acquisition is a key element of Bord na Móna’s strategy of diversification to Waste Management and Power Generation and follows the acquisition of Edenderry Power from EON Ltd in December last year.
John D. Hourican, Managing Director, Bord na Móna Plc commented “this acquisition is an important step for the Company in establishing a strong presence in the Waste Management sector in Ireland. We are committed to high quality products and services in all of our operations and we will continue this policy in Waste Management with special emphasis on raising standards. We are also strongly focused on Research & Development in this area to ensure maximum beneficial impact on the environment.”
He added the strong cash flow from our existing businesses provide a solid platform for the Company’s diversification programme which will see it expanding into the key areas of Power Generation and Waste Management. We intend to differentiate ourselves by offering sustainable, high quality, futuristic solutions in these areas in an ever challenging environment.