Saur sells its waste management business (COVED) and presses ahead with its strategy of refocusing on water
The Saur Group strategy to refocus its business on water was launched in 2015, and continues with the sale of Coved, its waste management business, to recycling and waste management specialist Paprec.
In disposing of its waste management company (2,800 employees and revenue of €344 million in 2016), the Saur Group continues to refocus its business to become a water industry pure player. This disposal also gives the Group the additional financial elbow room it needs to resume its growth policy. With the support of its shareholders, the Group has reached agreement with its lenders to retain the full sale price of Coved for investment in redeveloping its core business.
"Our primary duty is to continue the process of boosting our profitability. But now, we also have the ability to roll out our water services modernisation and expansion strategy in France and internationally", says Saur Group Chief Executive Louis-Roch Burgard.
About Saur: As a longstanding environmental services leader, SAUR Group serves local authorities and industrial companies in the successful implementation of development projects in water supply and treatment, environmental services (Coved), engineering (Stereau), infrastructure services (Cise TP), and other services related to leisure activities. Saur 2016 key figures: €1.25 billion Group net revenue, 9,000 employees and 13 million consumers in France and worldwide. https://www.saur.com/
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