Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Fulton Hogan reviews EnviroWaste Services Ltd

Fulton Hogan reviews EnviroWaste Services Ltd

Fulton Hogan is undertaking a strategic review of its investment in its wholly owned subsidiary EnviroWaste Services Limited. To assist in its considerations Fulton Hogan has appointed Goldman Sachs JBWere as financial adviser to the company.

Dave Faulkner, managing director of Fulton Hogan, said there is considerable interest in the waste sector and a growing appreciation of the value of businesses with strong earnings and growth potential, evidenced by the recent amalgamation of Waste Management with Transpacific Industries in New Zealand and the purchase of Cleanaway by private equity investor KKR in Australia.

“Fulton Hogan believes it is timely to undertake this strategic review. However, we remain comfortable with our ownership of EnviroWaste, and will not make any decisions regarding this investment ahead of the completion of the strategic review, which is expected to be by the end of the year,” he said.

EnviroWaste has grown substantially in the last three years to become clearly the second largest player in the solid waste industry in New Zealand and it is well positioned to continue to grow across all its businesses.

“While we work through this process, it will be business as usual in terms of EnviroWaste's commitment to its customers and employees,” Dave Faulkner said.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>


Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>


RBNZ: Super Fund Chief To Be New Reserve Bank Governor

Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. More>>


ScoopPro: Helping PR Professionals Get More Out Of Scoop has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>