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Greenstar Announces Acquisition of Kelly Recycling - 03.04.05
Greenstar earmarked €100 million for corporate activity
in 2005
Greenstar, Ireland's leading provider of waste management
services, has announced today (April 3, 2005), that it has
acquired the trade and assets of Seamus Kelly & Sons,
a Co. Wexford based waste management and recycling operator
known locally as Kelly Recycling. Kelly Recycling is one of
the largest operators in the South East collecting and recycling
15,000 tonnes of waste per annum.
The acquisition represents an expansion of Greenstar's collection
business in Leinster into Wexford, Waterford, Kilkenny, Carlow
and South Wicklow.
Commenting on the acquisition, Greenstar chief executive,
Steve Cowman said: "As well as continued expansion through
organic growth, we have earmarked €100 million to finance
corporate activity in 2005 - including acquisitions, joint
ventures and partnerships. Over the year, we plan to build
Greenstar's critical mass to the extent that it will have
an even stronger all Ireland presence in the MSW and C&I
waste channels through collection, transfer, recycling, composting
and landfill businesses."
The acquisition of Kelly Recycling is part of Greenstar's
growth strategy and we look forward to integrating the business
under the Greenstar standard."
Greenstar has been and continues to be a leading player in
the consolidation of the waste management industry. The company
has an excellent track record in relation to acquisitions
and the integration of companies. Between 2000 and 2003, Greenstar
acquired seven companies and successfully integrated them
under the Greenstar name and standard
Kelly Recycling, which services more than 10,000 domestic
and business customers, provides weekly refuse and recycling
collections in wheelie bins and bags, skip hire, compactor
services as well as commercial cardboard and plastic collections.
Greenstar will continue to employ Kelly Recycling owner,
Seamus Kelly, and his team of drivers, on a contract basis,
to continue to service customers.
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