Ferrovial says buys British waste management firm Donarbon
Spanish builder and infrastructure operator Ferrovial, owner of British airports operator BAA, said Wednesday it had bought British waste management company Donarbon for 48.6 million pounds.
The purchase was carried out through AmeyCespa, a joint venture of its subsidiaries Amey and Cespa set up to operate in Britain, it said in a statement.
"One of the company's strategic priorities is entering the waste management business in the UK," Ferrovial said.
Donarbon has a waste management contract in Cambridgeshire while AmeyCespa was recently named as the preferred bidder for a similar contract in North Yorkshire and York and is shortlisted for a contract in Norfolk.
Ferrovial said the purchase of Donarbon adds 480 million pounds (580 million euro, 608 million dollars) to its backlog.
Donarbon operates nine household waste recycling centres, two transfer stations as well as waste treatment facilities in Britain.
"The acquisition of Donarbon provides the company with an existing operational base in the UK, which will facilitate business development," Ferrovial said.
Ferrovial posted a loss of 164.5 million euros during the first half of the year, compared with a loss of 278.2 million euros a year earlier.
© 2010 AFP