DJ Renewi plc: Positive conclusion to European Commission landfill investigation
Renewi plc (RWI) Renewi plc: Positive conclusion to European Commission landfill investigation 06-March-2023 / 08:00 GMT/BST
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6 MARCH 2023
Renewi plc
Positive conclusion to European Commission landfill investigation
Renewi plc announces that the European Commission (EC) has concluded its formal investigation, first announced on 6 February 2020, into the alleged State Aid relating to the tax rate applied to certain recycled waste materials that were added to the now closed Cetem landfill in Mont Saint Guibert to contour the site for closure and rehabilitation.
In its decision published on 3 March 2023, the EC determined that the Belgian Walloon Region did not provide State Aid to Renewi Valorisation and Quarry NV.
In the past two years, the Belgian Walloon Region and Renewi both provided extensive information to the European Commission demonstrating that all materials used in the landfill rehabilitation were appropriate and that there was no selectivity in the Walloon Region's treatment of Renewi. Renewi is pleased this matter is now resolved and the provision of EUR15m taken for this liability in FY20 can be released.
For further information: Paternoster Communications Renewi plc +44 20 3012 0241 +44 7976 321 540 Tom Buchanan Adam Richford, Head of Investor Relations
About Renewi
Renewi is a pure-play recycling company with a focus on extracting value from waste and used materials rather than disposal through incineration or landfill. The company also plays a key role in limiting resource scarcity through the creation of secondary materials, and by so doing addresses both social and regulatory trends and contributes to creating a cleaner, greener world.
Renewi's vision is to be the leading waste-to-product company in the world's most advanced circular economies. With an industry leading recycling rate of 68%, Renewi puts 8m tonnes of low carbon secondary materials back into reuse. This is a significant contribution to climate change mitigation and the circular economy. Our recycling protects virgin resources and avoids emissions of more than 3 million tonnes of CO2.
Renewi, which draws on innovation and the latest technology to turn waste into useful materials - paper, metals, plastics, glass, wood, building materials, compost and water - employs over 6,500 people who work on 162 operating sites in 6 countries across Europe and the UK. Renewi is recognised as a market leader in Benelux and a European leader in advanced recycling.
Visit our website for more information: www.renewi.com.
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ISIN: GB00BNR4TXXX Category Code: MSCM TIDM: RWI LEI Code: 213800CNEIDZBL17KU22 OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 227497 EQS News ID: 1574885 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
March 06, 2023 03:00 ET (08:00 GMT)
