Suez Environnement S.A. (SZEVY.PK, SZEVF.PK) Wednesday said it acquired the waste management activities of WSN Environmental Solutions from the New South Wales government, for 174 million euros, with a view to strengthen its position in the Australian waste market.
According to the company, the acquisition for its Australian waste management subsidiary, SITA Environmental Solutions, expands its position on the commercial and municipal waste market.
The treatment facilities will complete the group's activities and its recycling and treatment capacities in Australia, by acquiring three state-of-the-art storage centres, two resource recovery facilities, eight transfer centres and three recycling units, the company said in a statement.
The operation will be finalised during the first quarter of 2011.
Australia represented a turnover of 355 million euros for the company in 2009, or 3% of the group's turnover. According to the company, Australia has demonstrated sharp growth in 2010, achieving 5.5% of the group's turnover during the first 9 months of the year.
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