Shanks Group PLC
12 May 2000
Shanks Grows Its Business in Belgium
Shanks Group plc today signed an agreement to acquire NV De Beer and Partners,
the holding company of a Belgian recycling and waste management group.
Shanks will pay circa £9 million cash for the Ghent-based company, operating
as Depaepe, which employs around 100 and had a 1999 turnover of circa £12
million. The agreement is subject to the approval of the Belgian competition
authorities.
Shanks already has activities in the Flanders region of Belgium, where it
became the country's second largest waste management company in 1998.
Group Chief Executive, Michael Averill, described today's acquisition as a
strategically important platform for future development in the Flanders region
where the Shanks presence would be significantly increased. He said: 'This
agreement reinforces the position of Shanks in Belgium and dovetails with our
recent major acquisition in Holland.'
For further information contact:
John Shaughnessy, Group Head of External Relations, Telephone 01628 524523
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