French firm Sita is to become Europe's largest waste services company early next year, following a deal announced today under which it will purchase the assets outside North America of Browning Ferris Industries. A subsidiary of Suez Lyonnaise des Eaux, Sita is already a leading competitor in Europe's waste management market, offering collection, disposal, recycling and waste to energy services for municipal, commercial, industrial and medical wastes. Earlier this year, the firm reported that its waste "valorisation" services had for the first time matched disposal operations in financial importance (ENDS Daily 3 April). Following the US$1.45bn (Ecu1.27bn) acquisition, under which Browning Ferris is to take a 20% stake in the French firm, annual revenues of nearly US$2.8 billion are predicted. Following the merger, Sita will be the world's third largest waste services company and the industry leader in France, the UK, the Netherlands, Germany and Spain, the companies said today.
Suez Lyonnaise des Eaux, tel: +33 1 40 06 65 25; Browning Ferris Industries, tel: +1 212 761 8374.
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