Veolia eyes bigger acquisitions as recycling activities boom

Veolia has said it will target bigger acquisitions from nest year as it focuses on high-growth activities such as toxic waste treatment and plastics recycling.

It has said it has agreed to sell its district heating business in the US to infrastructure fund Antin for $1.25 billion, which CEO Antoine Frerot said would free up cash to reinvest.

Veolia’s revenue for plastics recycling increased by 30 per cent in the first, and could reach $1 billion by 2025.

Frerot said: “We expect over $1 billion in revenue from plastics recycling by 2025, and it could be well before that. We are building plastics recycling facilities everywhere in the world.”

Via Reuters