Brambles announce that it has sold its Cleanaway Germany operation to SULO, a Germany-based waste management concern. Cleanaway Germany operates more than 50 facilities in Germany, Austria, Hungary, Poland, Switzerland, Sweden, Estonia and Lithuania. The division collects and recycles municipal, packaging, commercial and industrial waste and offers customers a range of recycling capabilities, from recovered fiber to plastics, glass, wood and organic material.
The company also reported that it has acquired AUSDOC, an Australian-based information management business. AUSDOC operates in all major regions in Australia, as well as selected markets in Canada and Indonesia, providing information management services such as document indexing, storage and retrieval for its customers.
David Turner, Brambles’ CEO, explained that the two moves have been designed to boost shareholder value.
“Our strategy is to create increasing value by managing our businesses rigorously and seeking appropriate opportunities for growth,” Turner said.
“Each part of Brambles must create growing value for our shareholders in the long term. We have taken this opportunity to sell Cleanaway Germany at an attractive price, while at the same time investing part of the proceeds to acquire the higher growth information management business, AUSDOC. These moves demonstrate our strategy in action.
“AUSDOC is a high quality business with a leading position in its markets. The acquisition underpins our overall strategy for Recall and continues to develop our information business in Australia.”