Renewi, the Anglo-Dutch waste giant, has been relieved of the ground issue that troubled the company in the Netherlands. Land that the subsidiary ATM thermally cleaned could not be used for a while because it might not meet safety requirements. The Ministry of Environment and Housing has now lifted that ban.
By thermally cleaning contaminated soil, that soil can be stripped of tar-containing asphalt, for example. Cleaned soil can then be sold to industrial companies, for example. The Human Environment and Transport Inspectorate prohibited the use of this type of land in 2018 due to safety concerns.
Renewi felt this prohibition in his results. This was partly due to the fact that the company had to perform tests several times to prove that the recycled soil was safe for use. This prompted the waste processor, created by the merger of the British Shanks and the Dutch Van Gansewinkel, to lower its expectations for this year. The Renewi share rose sharply on the London stock exchange at the announcement. Renewi has plans for a listing on the stock exchange in Amsterdam.
Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is oliver.kjeldsen@economicinform.com
