Waste management firm eyes rival
Waste management group Greenstar could cement its position as Ireland's largest waste management group by finalising a deal to buy part or all of its rival Panda Waste.
NTR-owned Greenstar is carrying out due diligence on the Co Meath-based firm, which has a turnover of more than Euro 50m.
According to the Irish Times, a full sale of Panda could cost Euro 65m, though this does not seem a certainty yet.
A spokesman for Panda said: “We are exploring all options. However, it would be premature to say that a sale is imminent.”
According to the Irish Environmental Protection Agency, although recycling rates are rising, so is the creation of waste.
The agency’s website reports that Ireland is producing twice as much household and commercial waste as it did ten years ago.
Between 1995 and 2006 the amount of municipal waste grew by 65% to 3.05m tonnes.
However, the country is on target to recycle 35% of waste by 2013.