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No plans to sell Cleanaway
Page 19
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BRAMBLES INDUSTRIES, the Australian-based business support services group, has moved quickly to quash rumours that it plans to dispose of its UK waste management business Cleanaway Holdings.
This follows last week's announcement that the group had sold Cleanaway's German operation to waste firm Sub for 087m.
Speculation has been rife in the financial markets that Brambles was looking to offload its poorly performing European waste assets; during the past two years Cleanaway Ger many has suffered from lower margins, denting profits at the parent company.
Announcing the sale,
David Turner, Brambles' chief executive, played down rumours that further asset sales were planned in the foreseeable future, and emphatically denied the group had any plans to sell Cleanaway UK.